China reveals new top 500 enterprises list
- By Wang Zhiyong
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E-mail China.org.cn, September 3, 2014
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The 2014 ranking of China's top 500 enterprises is released on Sept. 2, 2014 in Chongqing, at the Top China Corporations Summit. [Wang Zhiyong/China.org.cn] |
The 2014 ranking of the Top 500 Chinese Enterprises was unveiled at a press conference on Sept. 2, 2014 with China's state-owned oil giant Sinopec Group topping the list for a tenth year.
The list of top 500 companies on the Chinese mainland was calculated in terms of their revenues in 2013, compiled every year by the China Enterprise Confederation (CEC) and the China Enterprise Directors Association.
Sinopec's revenues reached 2.95 trillion yuan (US$476 billion) in 2013, earning it the top position on the list. Sinopec is followed by the China National Petroleum Corp, whose revenues hit 2.76 trillion yuan last year.
The two were joined by eight other state-owned companies to dominate the top 10, the same ones as on the 2013 list. The list is as follows:
1. Sinopec
2. China National Petroleum Corp
3. State Grid
4. Industrial and Commercial Bank of China
5. China Construction Bank
6. Agricultural Bank of China
7. China State Construction Engineering Corporation
8. China Mobile
9. Bank of China
10 China National Offshore Oil Corporation
A total of 100 Chinese companies made the 2014 global top 500 list as compiled by Fortune magazine. Of these companies, 92 are from the Chinese mainland.
State-owned enterprises (SOEs) continue to dominate the list. Among China's top 500, 300 are SOEs, accounting for 60 percent. The operating revenues of these SOEs account for 79.9 percent of the total 56.68 trillion yuan, while total assets account for 91.2 percent, out of the total 176.4 trillion yuan. The total profit of these SOEs account for 83.9 percent out of the total 2.4 trillion yuan.
The average profit margin of China's top 500 companies was 4.24 percent in 2013, lower than the average of 4.34 percent in 2012 and 4.67 percent in 2011, while the return on net assets of China's Top 500 companies decreased to 1.36 percent from 1.44 percent in 2012.
Among the 500 enterprises on the list, 98 are from Beijing, 48 are from Jiangsu Province and 46 from Shandong Province. The three regions are recorded with most numbers of big companies. No enterprise from Tibet makes the list.
In addition, two other lists, China's Top 500 Manufacturers and Top 500 Service Companies, were also made public.
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