Two workers work in a monitor room at a workshop of Shagang Group. [Photo/zjgonline.com.cn]

The latest Fortune Global 500 list was unveiled on Aug 2 with Shagang making the list for the thirteenth consecutive year.

With a total revenue of $38.67 billion in 2020, the group ranked 308th on the list, which was 43 places higher than its position of the previous year.

As China's largest private steelmaker, Shagang Group has total assets of 300 billion yuan ($46.40 billion), more than 40,000 employees, and an annual steel production capacity of over 40 million tons, ranking sixth among global steel companies.

The group's products are widely used in infrastructure construction, machinery equipment, automobiles and ships, aerospace, national defense and nuclear power, petrochemicals, rail transit, as well as other fields.

Headquartered in Zhangjiagang, Jiangsu province, Jiangsu Shagang Group Co is the largest electric furnace steel production base and the largest single-scale steel company across the country.

Shagang Group has established five steel production companies in Jiangsu, Liaoning, and Henan provinces. For instance, Dongbei Special Steel Group Co in Dalian, Liaoning province is a research and development, production, as well as supply base for high-end special steel materials required by the country's high-tech fields.

In addition to its major steel business, Shagang Group has extended and developed its business in resources, energy, metal ware, financial futures, trade logistics, venture investment, big data, and other fields, which has contributed to the group becoming a multinational group.