Baosteel jumped 63 steps in Global 500
China's largest steelmaker Baoshan Iron and Steel (Baosteel) is listed as the 309th largest company of the world in Fortune magazine's Global 500 list published on July 12. The company raised its position in the list 63 steps year on year thanks to its $19.55 billion sales income last year. The company's combined profits reached RMB 21.9 billion ($2.65 billion) in 2004, 66.3 percent up year on year.