Shagang Group in Zhangjiagang city of Jiangsu province ranked 318th on the Global 500 list released by Fortune magazine on July 7, 2013. It is the fifth year in a row that Shagang Group has made the list, with $34.56 billion in revenue and $94.5 million in profit.

Shagang Group ranked 444 when it was listed for the first time in 2009.

A total of 95 Chinese enterprises made the Fortune Global 500 list this year, 16 more than last year. Shagang Group is the only mainland enterprise in the steel industry that rose on the list, as the industry continues declining.

Sinopec Group, the highest-ranking Chinese enterprise, is fourth on the Global 500 list. China National Petroleum, State Grid, and Industrial & Commercial Bank of China followed at fifth, seventh and 29th on the list, respectively.