In 2009, Chinese state-owned company Sinosteel Group achieved sales revenues of RMB 155.2 billion ($22.73 billion), exceeding its projected target for 2009.
As stated by Sinosteel Group president Huang Tianwen, although China's steel industry was greatly hit by the global financial crisis in 2009, Sinosteel Group still registered sales revenues of RMB 155.2 billion for the year, registering a strong improvement in its market share. In 2009, Sinosteel Group also entered US-based Fortune magazine's list of the world's top 500 companies for the first time, ranked No. 372.
Sinosteel Group is mainly engaged in the developing and processing of metallurgical mineral resources, trading and logistics of metallurgical raw materials and products, and related engineering technical service and equipment manufacture.