| China publishes top 500 enterprises |
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| Monday,August 22,2005 Posted: 09:31 BJT(0131 GMT) Xinhuanet |
BEIJING, Aug. 20 (Xinhuanet) -- China Petrochemical Corporation (Sinopec), a giant state-owned enterprise, ranks first in the country's top 500 enterprises this year, with business volume of 634.2 billion yuan, the China Business News reported on Friday.
The list of Top 500 Enterprises in China was promulgated by the Chinese Federation of Enterprises (CFE), it reported.
The last company on the Top 500 list had a business volume of 4.5 billion yuan, a large-margin increase from the previous year, CFE Vice President Chen Lantong told the newspaper.
Most of the top ten companies on the list are giant state-owned enterprises in some monopolized industries, such as the State Grid Company, the China National Petroleum Corporation (CNPC), China Mobile and Industrial and Commercial Bank of China.
This year the business income of China's Top 500 enterprises reached 11.75 trillion yuan, accounting for 86 percent of the country's gross domestic product (GDP).
Compared with the Top 500 companies in the world, most of China's Top 500 are state-owned enterprises in petroleum, power and steel industries that are monoplized, said Professor Liu Jisheng with the Qinghua University.
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