China Baowu Steel Group

The corporations on our annual list of the world's 500 largest companies combined to generate $41.7 trillion in revenue over the past year.

Fortune Global 500

The corporations on our annual list posted aggregate revenues of $41 trillion for the second year in a row.

The corporations on our annual list of the world’s largest companies delivered a record $41 trillion in aggregate revenues.

G500-2023-China Baowu Steel Group

As the largest steel and iron enterprise in the world, the state-owned China Baowu Steel Group produced 131.84 million tonnes (metric tons) of steel in 2022, according to the World Steel Association—close to double the output of the second-largest steel company, ArcelorMittal. 
<ul> 
 	<li>The company is growing via mergers and acquisitions; it’s in the process of acquiring the state-owned Shandong Iron &amp; Steel Group and purchasing a majority stake in Xinyu Iron &amp; Steel Group.</li> 
 	<li>In December 2022, Baowu absorbed the state-owned mining company Sinosteel Group, giving it a global advantage in raw materials.</li> 
 	<li>Baowu inked agreements with international metals companies, including Australian Fortescue and Anglo-Australian Rio Tinto, to reduce carbon emissions in steelmaking.</li> 
 	<li>Baowu and other steel manufacturers are anticipating a difficult second half of 2023, as steel demand lags and prices drop.</li> 
</ul>

Aggregate sales hit $37.8 trillion last year—an increase of 19%, the highest annual growth rate in the list’s history.

G500 2022-44-China Baowu Steel

China Baowu Steel Group is the largest iron and steel company in the world. As China fast-tracked consolidation of its steel industry in 2021, the state-owned Baowu brought in $150.7 billion in revenue, breaking into the top 50 of the Global 500 for the first time. Baowu plans to produce 200 million metric tons of crude steel by 2025, and its ongoing acquisition of state-owned Shandong Iron &amp; Steel Group and majority stake purchase of Xinyu Iron &amp; Steel Group bring it closer to that target. Baowu was the largest steelmaker globally for the second year in a row, according to the World Steel Association, with crude steel output jumping 4.35% to 120 million metric tons in 2021. As China limits its crude steel output as part of a plan to curb carbon emissions, Baowu has pledged to reduce its carbon output by 30% by 2035, and achieve carbon neutrality by 2050. In November 2021, Baowu established a global alliance with more than 60 other steelmakers to address cutting emissions in the industry.

Total revenue for the world’s biggest companies fell 4.8% to $31.7 trillion this year—the first decline in half a decade.

G500-2021-072-China Baowu Steel Group

This year's Fortune Global 500 generated $33.3 trillion in revenues and $2.1 trillion in profits.

This year's Fortune Global 500 generated $27.7 trillion in revenues and $1.5 trillion in profits.

Here are the World's Most Admired Companies for 2017 as ranked in their industries. See who made the list.

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Formerly known as Baosteel Group Corporation, the state-owned iron and steel manufacturing company China Baowu Steel Group was founded in 1993. It offers carbon, stainless, and other kinds of steel. It also provides digital design and consulting services, and engages in mineral resources trading and logistics.

China Baowu Steel Group

China Baowu Steel Group in Fortune Rankings