The “2005 Top 500 Chinese Enterprises and High-level Forum†closed on August 22 officially announced the list of top 500 Chinese companies in 2005, 29 oil and chemical companies were on the list, and China Petroleum & Chemical Corporation sold 634.287 billion yuan annually. Income ranks first. At the same time, a list of top 500 Chinese manufacturing and service industry companies was also announced.
According to a briefing, the China Enterprise Confederation and the China Entrepreneurs Association have been ranking among the Top 500 Chinese Enterprises since 2002, and the evaluation criteria are basically the same as those of Fortune Global 500. Both are based on the company’s annual sales revenue, but this year’s The ranking also added two indicators of corporate research and development expenses and the first main business income. This year, the average operating income of China's top 500 companies reached RMB 23.491 billion, and the average profit was RMB 1.059 billion. The three oil extraction and processing enterprises (China Petroleum & Chemical Corporation, China National Petroleum Corporation and China National Offshore Oil Corporation) are among the best, and the annual operating revenue of China Petroleum & Chemical Corporation, which is ranked first, reached 634.287 billion yuan.
Li Jianming, spokesman of the China Enterprise Confederation, conducted a comparative analysis of the Top 500 Chinese Enterprises and Fortune 500 companies. He pointed out that although the competitiveness of China’s large enterprises has improved significantly, compared with the top 500 companies in the world, the top 500 companies in China are on a large scale. There is a clear gap between labor productivity and profitability. In 2005, the total operating revenue, total profit, and total assets of China's top 500 companies were only equivalent to 8.4%, 7%, and 6% of the world's top 500 companies in the same category. The lack of internationally-renowned brands of Chinese companies generally lacks independent intellectual property rights and core technologies. At the same time, there are weak points such as low internationalization, lagging development of service industries, and monopolistic industries still occupying major positions. The growth of large enterprises in China depends on them. The inertia of government forces continues.
According to a briefing, the China Enterprise Confederation and the China Entrepreneurs Association have been ranking among the Top 500 Chinese Enterprises since 2002, and the evaluation criteria are basically the same as those of Fortune Global 500. Both are based on the company’s annual sales revenue, but this year’s The ranking also added two indicators of corporate research and development expenses and the first main business income. This year, the average operating income of China's top 500 companies reached RMB 23.491 billion, and the average profit was RMB 1.059 billion. The three oil extraction and processing enterprises (China Petroleum & Chemical Corporation, China National Petroleum Corporation and China National Offshore Oil Corporation) are among the best, and the annual operating revenue of China Petroleum & Chemical Corporation, which is ranked first, reached 634.287 billion yuan.
Li Jianming, spokesman of the China Enterprise Confederation, conducted a comparative analysis of the Top 500 Chinese Enterprises and Fortune 500 companies. He pointed out that although the competitiveness of China’s large enterprises has improved significantly, compared with the top 500 companies in the world, the top 500 companies in China are on a large scale. There is a clear gap between labor productivity and profitability. In 2005, the total operating revenue, total profit, and total assets of China's top 500 companies were only equivalent to 8.4%, 7%, and 6% of the world's top 500 companies in the same category. The lack of internationally-renowned brands of Chinese companies generally lacks independent intellectual property rights and core technologies. At the same time, there are weak points such as low internationalization, lagging development of service industries, and monopolistic industries still occupying major positions. The growth of large enterprises in China depends on them. The inertia of government forces continues.
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