What is "baosteel"

Shanghai Baosteel Group Corporation, commonly referred to as Baosteel, is a state-owned iron and steel company headquartered in the Baosteel Tower in Pudong, Shanghai, China.

Baosteel is the fourth-largest steel producer in the world measured by crude steel output (after ArcelorMittal), with an annual output of around 40 million tons (China's total steel production in 2012 was 716 million tons). It employs 130,401 employees as of the end of 2012, has annual revenues of around $21.5 billion, and produces a mix of products.

Baosteel's IPO on the Shanghai Stock Exchange in 2000 was the largest in China up to that time, raising CNY 7.7 billion despite being limited to domestic investors only.