China Baowu Iron and Steel Group Co., Ltd. (referred to as China Baowu) was jointly restructured from the original Baosteel Group Co., Ltd. and Wuhan Iron and Steel (Group) Company, and was officially established on December 1, 2016. On September 19, 2019, China Baowu implemented a joint restructuring of Masteel Group. China Baowu has a registered capital of 52.79 billion yuan and an asset scale of over 860 billion yuan, making it a pilot enterprise for state-owned capital investment companies. In 2019, China Baowu continued to maintain its leading position in the industry, achieving a steel output of 95.46 million tons, a total operating revenue of 552.2 billion yuan, and a total profit of 34.53 billion yuan. Its business scale and profitability ranked first in the world and 111th on the Fortune Global 500.
