48 Chinese Central SOEs Listed among Fortune Global 500

Forty-eight Chinese central SOEs were included on the 2019 Fortune Global 500 List released by Fortune China on July 22.

The 48 enterprises are all under the management of the State-owned Assets Supervision and Administration Commission of the State Council (SASAC).

A total of 129 Chinese enterprises were listed this year, for the first time surpassing the companies from the United States, which numbered 121.

One hundred and nineteen of the companies on the list are in the Chinese mainland (including Hong Kong companies).

It is worth mentioning that China Petrochemical Corporation, China National Petroleum Corporation and State Grid Corporation of China rank second, fourth and fifth, respectively.

Among the new faces on the list, 13 are from China, more than half of the total.

The 13 Chinese companies are China Development Bank, CRRC Corporation Limited, Tsingshan Holding Group,Jinchuan Group Co. Ltd., Gree Electric Appliances Inc. of Zhuhai, Anhui Conch Group Co. Ltd, Hua Life Insurance Co.，Ltd, Tongling Nonferrous Metals Group holdings Co., Ltd, Shanxi Coking Coal Group Co., Ltd., Xiaomi Corp, Hailiang, China General Technology (Group) Holding Co., Ltd and Formosa Petrochemical Corporation.

Six of the top 10 firms with the fastest ranking growth come from China. They are Country Garden, Alibaba, Yango Longking, Tencent, Suning and China Evergrande.

Chinese companies have reversed the downward trend in recent years in terms of return on sales and return on common stockholders' equity.

The average sales revenue of the 119 Chinese companies on this year's list stood at $66.5 billion, with an average net asset of $35.4 billion and an average profit of $3.5 billion.

The average sales revenue and net assets of China's listed companies are basically the same as those of the top 500 companies in 2018 and have caught up with companies in traditional economic powers like Japan, Britain, France and Germany in terms of sale and asset scales.

For the past few years, Chinese central SOEs have made efforts to become internationally leading companies.

Numbers of Chinese enterprises and central SOEs on the 2019 Fortune Global 500 List [Numbers provided by sasac.gov.cn]

Chinese enterprises included on the 2019 Fortune Global 500 List. Those listed in the blue are central SOEs. [Photo/sasac.gov.cn]

(Executive editor: Hao Wen)