Wuhan Iron and Steel Group Corporation is the first super-large iron and steel joint enterprise built after the founding of New China. Construction began in 1955 and was put into operation on September 13, 1958. It is an important key state-owned enterprise directly managed by the Central Government and the State-owned Assets Supervision and Administration Commission of the State Council. The headquarter plant is located in the eastern suburb of Wuhan City, Hubei Province, on the south bank of the Yangtze River, covering an area of 21.17 square kilometers. WISCO has a complete set of advanced steel production process equipment including mining, coking, iron making, steel making, steel rolling and logistics, and supporting public and auxiliary facilities. After joint reorganization of E Steel, Liu Steel and Kunming Steel, it has become a production scale of nearly 40 million. Tons of large enterprise groups, ranking fourth in the world's steel industry.
On the morning of March 10, 2016, Ma Guoqiang, chairman of Wuhan Iron and Steel Group, said in the People's Daily "Dialogue on New State-owned Enterprises Refueling 13th Five-Year" interview program that Wuhan Iron and Steel Group is undergoing staff diversion, and 40,000 employees will no longer be engaged in the steel industry.
In August 2016, Wuhan Iron and Steel (Group) Company ranked 144th among the "2016 Top 500 Chinese Enterprises".
On September 22, 2016, the SASAC agreed to implement a joint reorganization between Baosteel Group and Wuhan Iron and Steel (Group). According to the announcement, Baosteel Group Co., Ltd. changed its name to China Baowu Iron and Steel Group Co., Ltd. As the reorganized parent company, Wuhan Iron and Steel (Group) Co., Ltd. was transferred into the company as a wholly-owned subsidiary.
