Shagang Group in Zhangjiagang, Suzhou, East China's Jiangsu province ranks among Jiangsu's top 100 for innovation. [Photo/zjgonline.com.cn]

Shagang Group, a Global Fortune 500 company in Zhangjiagang, Suzhou, East China's Jiangsu province, ranked 15th on the list of the province's 2020 top 100 innovative enterprises, local news outlets reported on March 29.

The list focused on the innovation input and output, innovative performance, as well as management of a company. The listed companies all have a strong capability of independent innovation, good economic returns, and a high-level innovation management level. It was the fourth time that Shagang Group has made the list since 2016.

Over the past year, Shagang Group has pursued innovation-driven development, improved the industrial system that encourages innovation, as well as increased investment in research and development (R&D).

It has set up a number of R&D and management groups, as well as cooperated with the country's leading research institutions and universities to promote the deep integration of enterprises, universities, and research institutes.

Official data shows that during the 13th Five Year Plan period (2016-20), a total of 16 research achievements of the group won the scientific and technological progress award at the provincial and ministerial level or above.