China publishes list of top 500 companies in 2021

CHANGCHUN – China published the list of the 500 best Chinese companies for 2021 on September 25th, which shows improved business performance and better industrial structure.

The combined operating revenues of the top 500 companies reached 89.83 trillion yuan (about $ 13.9 trillion) in 2020, up 4.43 percent year over year, according to joint ventures by the China Enterprise Confederation and the China Enterprise Directors Association published list.

The companies posted total profits of 4.07 trillion yuan, up 4.59 percent compared to the companies on the list for 2020.

The State Grid Corporation of China topped the list, followed by the China National Petroleum Corporation and the China Petroleum & Chemical Corporation.

The revenue threshold of the 500 largest Chinese companies rose 3.28 billion yuan from last year to 39.24 billion yuan, the data showed.

The number of companies with sales exceeding 100 billion yuan rose to 222, of which eight reported sales over 1 trillion yuan.

This year’s list also showed an improved industrial structure as more high-tech and modern service companies such as communication equipment manufacturers and logistics companies were included.

The top 500 companies’ average R&D spending was 2.94 billion yuan, up 17.95 percent. The ratio of their R&D expenditure to operating income reached a new high of 1.77 percent.

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