Shagang Group in Zhangjiagang city of Jiangsu province ranked 318th on the Global 500 list, 28 places higher than last year and 126 places higher than five years ago.

Yao Linrong, mayor of Zhangjiagang city, visited Shagang Group on July 22, congratulating the enterprise and trying to help it solve problems in development.

Yao and other officials visited the workshop of the group. Yao said he hopes Shagang Group can continue to develop and could rank in the top 300 of the Fortune Global 500 list.

Shen Wenrong, president of Shagang Group, introduced the enterprise to the mayor. He said their goal is to make 265 billion yuan ($43.19 billion) in revenue in 2015 and be listed in the top 300.