Chen Derong, general manager of leading Chinese steelmaker Baowu Group, has announced that Baowu Group’s profitability improved significantly in 2017, with the group achieving a gross profit of RMB 14.0 billion ($2.2 billion), and an operating revenue of RMB 460.0 billion ($73.1 billion) in the given year, while its crude steel output amounted to 65.39 million mt in the same year.