China's Baosteel stays on Fortune 500 list for 4th straight year

http://www.chinaccm.com 2007-7-13 17:21

    The Shanghai Baosteel Group Corporation, China's largest steel 
maker, announced Friday that it has been included in the Fortune 500
 list for the fourth straight year. 

    Baosteel ranks the 307th on the 2007 list of Fortune 500 companies 
with a sales revenue of 180.68 billion yuan (22.66 billion U.S. dollars
) in 2006and was the sixth among all steel companies that entered the 
list, the company said. 

    The sales revenue represented an annual growth of 2.56 percent, it 
said. 

    With an output of 22.53 million tons of steel, the company scored 
22.58 billion yuan (2.97 billion U.S. dollars) in profits last year, 
up 2.27 percent over the previous year, it said. 

    A total of 24 Chinese companies appeared on the newly released 
Fortune 500 list, the top three being the China Petroleum and 
Chemical Corporation, China National Petroleum Corporation and the 
State Grid. Baosteel ranks the 14th among the Chinese companies on 
the list.