SOEs Occupy Top 10 of 2013 Fortune China 500 List
    2013-07-16 18:18:48     CRIENGLISH.com      Web Editor: Cui
Sinopec and PetroChina remain two of China's leading companies, according to Fortune China 500 list, released on Tuesday. The top 10 places in the list were occupied by Chinese State-owned Enterprises.

Sinopec and PetroChina remain two of China's leading companies, according to Fortune China 500 list, released on Tuesday.

This year the threshold for the list was raised to 7.25 billion yuan ($1.18 billion USD), 1 billion yuan higher than that of last year, Fortune China reports. The top 10 places in the list were occupied by Chinese State-owned Enterprises (SOE).

China State Construction Engineering replaces China Mobile to rank the 3rd on the list. The "big four" state banks, namely Industrial and Commercial Bank of China, China Construction Bank, Agricultural Bank of China and Bank of China have proved to be the most profitable companies in China.

The annual ranking includes China's top 500 listed companies, in a bid to reflect the Chinese economy.

One of the highlights of this year's list is that Li Ning Company and Founder Technology Group have been kicked out of the list.

As the performance fell sharply, PV enterprises including Suntech Power, LDK Solar and Rene Sola have also dropped off from the top 500 list.

The Top 15 Companies of Fortune China 500

Name

Revenues (mln/yuan)

Profits (mln/yuan)

1. China Petroleum & Chemical Corporation

2786045

63496

2. Petrochina Company Limited

2195296

115323

3. China State Construction Engineering Corporation Limited

571516

15735

4. China Mobile Limited

560413

127197

5. Industrial and Commercial Bank of China Limited

536945

238532

6. China Railway Construction Corporation Limited

484313

8479

7. China Railway Group Limited

483992

7355

8. SAIC Motor Corporation Limited

480980

20752

9. China Construction Bank Corporation

460746

193179

10. Agricultural Bank of China Limited

421964

145094

11. China Life Insurance Company Limited

405379

11061

12. Bank of China Limited

366091

139432

13. Ping An Insurance (Group) Company of China, Limited

299372

20050

14. China Communications Construction Company Limited

296227

11950

15. China Telecom Corporation Limited

283073

15207

 

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