China's Top 500 Enterprises Announced

2004/08/26

The All-China Federation of Enterprises has unveiled its ranking of China's Top 500 enterprises for this year.
According to the federation, China's Top 500 grew significantly faster than the world's Top 500. More than 100 companies make their debut in the ranking.
The operating turnover of China's Top 500 approached 9 trillion yuan (US$1.1 trillion), with an average annual growth of 21 per cent over the past three years. The enterprise in last place in the Top 500 had an operating turnover of 3.06 billion yuan (US$366 million), an increase of 500 million yuan (US$61 million) over the enterprise in last place last year.
In the new ranking, State Power Grid Corporation replaced CNPC to take the top spot, followed by CNPC, Sinopec, the Industrial and Commercial Bank of China, China Mobile, China Life, China Telecom, Sinochem, China Construction Bank and Bank of China.
State Power Grid Corporation ranks 46th among the world's Top 500 companies.
Compared with the world's Top 500, which are mainly in competitive industries, vice-chairman of the federation Chen Zhong said that China's Top 500 enterprises are mostly in monopolized industries.
Meanwhile, the turnover increase rate of the Chinese enterprises in the ranking averaged 26 percent, while it was only 10 percent for the world's Top 500. The average profit rate of the Chinese enterprises, however, was similar to that of the world's Top 500.



	Article featured in Business Beijing, September 2004 Publication sponsored by Information Office of the Beijing Municipal Government, Beijing Municipal Bureau of Commerce, Development & Reform Commission of Beijing Municipality, China Council for the Promotion of International Trade (Beijing Sub-Council)