Baosteel Group Corporation is a legally incorporated state-owned sole corporation and is the most competitive steel complex in China, ranked No. 212th in 2011 Fortune Global 500. In February 2000, Baoshan Iron & Steel Co., Ltd, the subsidiary of Baosteel Group, was set up officially and listed in Shanghai Stock Exchange in December of the same year. By the end of 2010, Baosteel owned a total assets of RMB 432.1 billion, owner's equity of RMB 260.2 billion. In 2010, Baosteel registered a total operating revenue of RMB 273 billion, and a pre-tax profit of 24.2 billion. By the end of 2010, the total staff is 118500 people. Baosteel produced 44.50 million tons of steel in 2010, ranking No.3 among the global steelmakers. Baosteel entered Fortune Global 500 for 8 years in a row, and ranked No. 212th in 2011.