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nhancement of the international competitiveness of China's steel, as well as the acceleration of the modernization of China's industry. It is the inevitable result of development of capital markets of China's iron and steel, also reflects the steel industry and securities markets complement each other, to promote the development of mutual relations (Movshuk. 2003). However, the results look between hope and reality there is always a gap. In recent years, during the development of steel listed companies, also exposes a series of problems, such as the irrational ownership structure, operating under the constraints associated group, low added value products, less high-end products, blind investment, low repetition building, highlighting the contradiction between production and environmental protection, etc. are quite common (Fan et al., 2009). The problems caused the steel in the performance of listed companies on the difference growing. The financial performance of steel listed companies reflects the development of the steel industry, therefore, to evaluate the performance of steel listed companies, by contrast to identify gaps, to analyze the performance reasons, based on these to improve and make efforts to determine the direction is the important issues of concern for social public.

1.2 Research objectives and significance
1.2.1 Aim of topic
The purpose of this study is: drawing performance evaluation system used in the past, combined with the actual situation in the steel industry, to evaluate the financial performance for Baosteel Group Corporation and forecast future trends. On this basis, it is to analyze the causes of the merits of the financial performance and make recommendations for improving performance measures for Baosteel Group Corporation.

1.2.2 Significance of topic
In the market economy, enterprise is the basic micro-economic actor, in the various organizational forms of the enterprise, the stock corporation for its many advantages has become the leading force in the market economy, and listed company is the most typical representative of the modern stock corporation. Since 1990, the establishment of the Shenzhen and Shanghai Stock Exchange to the end of 2009, domestic listed companies in China reached 1,476 (Morhardt, Brewer & Adidjaja, 2009). Compared to other countries, China's listed companies started late, but through the introduction of foreign advanced management experience, financial models and related operating rules, listed company has become an important investment target of financing economic development (Kalogeras et al., 2005). The merits of the financial performance of listed companies is key for public investment decisions, but also the basis for the internal measure of operating performance, improving business management and developing business strategy (Gerpott & Jakopin, 2005). In addition, government departments, companies and other financial structures are using the results of evaluation of financial performance with different degrees of external stakeholders (Barr, Hussain & Sommers, 2005). It can be said that the merits of the financial performance of listed companies fundamentally determines the rational allocation of resources and the orderly market competition (Kaplan & Norton, 1992, 1996). Therefore, to evaluate the financial performance of listed companies is very important significance.

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