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[SMM Analysis] four Chinese Steel Enterprises on the Fortune list enhance the International Competitiveness of China's Iron and Steel Industry
Oct 18,2019 09:44CST
The content below was translated by Tencent automatically for reference.

SMM: fortune (Chinese version) recently released an all-Star list of the "most admired Chinese companies" in 2019. Among them, a total of four steel mills were named "the most admired Chinese companies" in the list: China Baowu Iron and Steel Group Co., Ltd., Shougang Group Co., Ltd., Angang Group Co., Ltd., and Shagang Group Co., Ltd.

The list of the most admired Chinese companies is co-produced by Fortune (Chinese version) and brilliant International. A questionnaire on "the most admired Chinese companies" was distributed to 37978 Chinese business managers online. Each interviewee had to fill out two parts of the questionnaire. The first part is based on the industry where the interviewees are located, scoring the candidate enterprises in the same industry, and entering the industry list with the top five with the highest comprehensive score. The second part is to select the most respected companies regardless of industry among all the candidate companies, and the top 50 companies with the highest scores are on the all-star list of the "most admired Chinese companies".

China Baowu Iron and Steel Group is an important state-owned central enterprise supervised by the State-owned assets Supervision and Administration Commission of the State Council, headquartered in Shanghai and Wuhan. Baoshan Iron and Steel Co., Ltd., referred to as Baosteel for short, is a listed company of China Baowu Iron and Steel Group Co., Ltd. on the Shanghai Stock Exchange. China Baowu Iron and Steel Group Co., Ltd. is the largest and most modern iron and steel conglomerate in China.

Shougang Group is a large enterprise group mainly engaged in steel production, mining, machinery, electronics, construction, real estate, service industry, overseas trade and other industries, cross-regional, cross-ownership and transnational operation. Shougang Corporation is the parent company, subordinate shares, Xingang, Jingtang, Qiangang, Shouqin, Changzhi, Tonggang, high and new technology, mechanical and electrical and other overseas enterprises. In July 2019, Shougang Group ranked 402 on the Fortune 500 list.

Angang Group Co., Ltd., established on July 28, 2010, is a central enterprise supervised by the State-owned assets Supervision and Administration Commission of the State Council. In September 2019, it ranked 35th on the list of the top 500 Chinese manufacturing enterprises in 2019.

Jiangsu Shagang Group Co., Ltd., that is, Jiangsu Shagang Group, is a key enterprise group in Jiangsu Province, the national super large industrial enterprises, the largest private iron and steel enterprises in the country. The Group is headquartered in Zhangjiagang City, Jiangsu Province. Shagang Group adheres to the road of innovation and development, constantly optimizes the product structure, deepens energy conservation and emission reduction, develops circular economy, and achieves steady development in the development of enterprises. In July 2019, it ranked 340th on the Fortune 500 list.

According to SMM, in June this year, China Baowu Iron and Steel Group implemented a strategic reorganization of Maanshan Iron and Steel Group, and the reorganization of China Baowu and Maanshan Iron and Steel Group, on the one hand, will lead Maanshan Iron and Steel to achieve leapfrog development, on the other hand, it will promote China Baowu to become a "leader in the global steel industry" and further build a world-class technological innovation, industrial investment and capital operation platform in the iron and steel field.

In addition, Shougang Group, Angang Group and Shagang Group have been praised by most businessmen and operators in the domestic iron and steel market. For the procurement of raw materials needed for steel production, the procurement volume of Shougang Group has basically remained stable. The purchase price did not deviate from the market benchmark. SMM believes that Shougang Group mainly develops the steel industry, and has made good development and achievements in market investment and construction, including environmental industry, transportation industry, equipment manufacturing industry, construction industry, etc., so it has been widely praised by market participants.

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