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Baosteel Ranks 16 on 2011 Fortune 500 Chinese Enterprises

07/18/2011 - Baosteel was ranked No. 16 in the 2011 Fortune 500 Chinese enterprises, which Fortune released last week on its Chinese website.

Fortune officially announced the 2011 Fortune 500 Chinese enterprises last week on its Chinese website. With 202.413 billion yuan of operating income, Baosteel was ranked No. 16.
 
This is the second year that Fortune's Chinese website has released the Chinese enterprise top 500 list, especially for listed enterprises in China. Since last previous year, the finalist threshold has risen to 1.2 billion yuan of revenues and there are 45 newcomers. This year, China's top 500 enterprises’ revenue reached 18.9 trillion, which is an increase of 38% over the previous year.
 
Accounting for 47% of China's GDP, Sinopec tops the list with 1.91 trillion yuan of operating income. CNPC, China Mobile, China Railway, China Railway Construction occupy the top five along with Sinopec.
 
Fortune’s Chinese website mentions that Baosteel is China's most modern iron and steel complex, noting that its comprehensive strength in integrity, talent, innovation, management and technology allows it to achieve world-class status in the international steel market.