On July 8th, the list of 2013 Fortune Global 500 Companies was released. Baosteel was ranked No. 222 with operating revenue of 45,682.7million USD and net profits of 918.8million USD. It had been consecutively ten years that Baosteel was listed in Fortune 500.
The list of Fortune Global 500 Companies is one of the most well-known and authoritative lists in assessing global large corporations. It is published once a year by Fortune magazine. This year, its threshhold to be enlisted in the Global 500 Companies reached 23.2billion USD, an increase of 1.2billion USD compared with last year. However, total profits dropped approximately hundreds of billions of USD compared with last year, which illustrated the still gloomy prospects of the world's overall economic conditions. Royal Dutch Shell ranked No.1 in the list. The number of listed Chinese corporations reached 95, an increase of 16 compared with last year.
The year of the last had been an extremely tough yet significant one for Baosteel. It went through tests of fierce market competition. Under serious circumstances of recession of the global steel industry and whole industry losses in China, Baosteel deepened reform and sought breakthrough. With concerted efforts of all employees, Baosteel realized profits of over tens of billions yuan in management performance, continuing its leading role in the industry. Three rating agencies of Standard & Poor's, Moody's and Fitch Ratings granted Baosteel utmost credit rating in global steel industry as a manifesto of its comparatively strong competitiveness.
Due to influences from the declining global economy and shrinking market demands on steel enterprises, rankings for ArcelorMittal, ThyssenKrupp, POSCO, Nippon Steel Sumitomo Corporation, etc. all dropped to some degree in this latest published list. Chinese steel enterprises listed in Global 500 Companies also included: Hebei Steel (ranked 269), Sha Steel (ranked 318), Shougang (ranked 322), Wu Steel (ranked 328), Xinxing Cathay International Group (ranked 406) and An Steel (ranked 493).
Top ten enterprises in the 2013 Fortune Global 500 Companies were: Royal Dutch Shell, Wal-mart, Exxon Mobil, China Petroleum & Chemical Corporation, China National Petroleum Corporation, British Petroleum, China State Grid Corporation, Toyota Motor Corporation, Volkswagen and TOTAL.
