China unveils new top 500 companies list

By Wang Zhiyong: 0 Comment(s)Print E-mail China.org.cn, September 3, 2011

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The 2011 ranking of China's top 500 enterprises was released today in Chengdu, Sichuan at the Top China Business Summit.

• Top 500 Companies: 1-100 101-200 201-300 301-400 401-500

• Top 500 Manufacturers: 1-100 101-200 201-300 301-400 401-500

• Top 500 Service Companies: 1-100 101-200 201-300 301-400 401-500

• Top 20 Chinese cities favored by top companies

• Top 16 Chinese regions in fostering top companies

The new list, based on the companies' 2010 revenues, was established by the China Enterprise Confederation (CEC) and China Enterprise Directors Association.

Two other lists, China's Top 500 Manufacturers and Top 500 Service Companies, were also made public.

The 2011 ranking of China's top 500 enterprises is released on September 3 of 2011 in Chengdu, Sichuan at the Top China Corporations Summit. [Wang Zhiyong/China.org.cn]

A total of 1,078 enterprises have been ranked on these three lists. Of them, 279 from the Top 500 Manufacturers and 143 from Top 500 Service Companies are included in the country's 500 largest firms.

A sum of 69 Chinese companies made the 2011 global top 500 list as compiled by Fortune magazine, 15 more than last year.

"Of these companies, 58 are from the Chinese mainland, eight are from Taiwan and three are from Hong Kong." said Wang Zhongyu, president of the China Enterprise Confederation. He added that China's biggest firms are growing at a brisk pace despite the global economic downturn.

"China's top 500 companies chalked up 3.631 trillion yuan (US$5.39 trillion) in operating revenue last year, increasing 31.6 percent year by year, which is equivalent to 20.69 percent of the total operating revenue created by the world's top 500 companies in the same year, 3.16 percent more compared to 2009," Wang said.

Wang Zhongyu (middle), president of the China Enterprise Confederation, makes a keynot speech at the opening ceremony of the Top China Corporations Summit on September 3 of 2011 in Chengdu, Sichuan. [Wang Zhiyong/China.org.cn]

These companies also reported net profits of 2.08 trillion yuan, which grew by 38.67 percent from last year.

The average profit margin of China's top 500 companies was 5.74 percent in 2010, higher than the average of 5.44 percent in 2009, while the return on net assets of China's Top 500 increased to 1.93 percent.

Furthermore, the tax contributed by the Chinese heavyweights grew 28.77 percent last year to 2.73 trillion yuan, accounting for 37.4 percent of China's total tax revenue of 7.3 trillion in 2009.

The net profit per capita also grew by 38.59 percent to 76,500 yuan in 2010.

However, state-owned enterprises (SOEs) continue dominating the three lists. Among the China's top 500, 316 are SOEs, accounting for 63.2 percent. The operating revenue of these SOEs was 30.08 trillion yuan, accounted for 82.84 percent, while the total asset was 97.74 trillion yuan, accounting for 90.41 percent.

However, unlike the world's top 500 companies, most of which are service and high tech giants, a lion's share of China's top 500 companies are traditional industrial enterprises in the fields of steel, real estate, mining and oil and power generation.

"It is a tough job, in the short-term, to make Chinese corporations catch up with their foreign counterparts in terms of 'soft power,' such as the capability of resource integration, management expertise, brand building and intellectual property protection," said Miao Rong, a CEC researcher who led the compilation of the list.

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