Shagang Group, based in the port city of Zhangjiagang, ranks 351st on the Fortune Global 500 this year. [Photo/zjgonline.com.cn]

Shagang Group, based in the port city of Zhangjiagang, ranked 351st on the Fortune Global 500 this year, which was unveiled on Aug 10.

Shagang Group is the largest private metallurgical enterprise in China, with its products being widely used for infrastructure construction, mechanical equipment, auto parts, and ship parts.

The group has 290 billion yuan ($41.73 billion) in total assets and more than 40,000 staff members. It has an annual steel production capacity of over 40 million metric tons, making it the sixth largest steel producer in the world.

Shagang Group has grown into an international group involved in energy resources, metal products, financial futures, and trade logistics.

It has been listed on the Fortune Global 500 list for 12 consecutive years, ranking 340th last year.

In recent years, the Group has been working to advance intelligent manufacturing, develop smart and environmentally-friendly logistics systems, and build a comprehensive e-commerce platform for steel products.