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Sinopec leads China’s list of top 500 companies

A list of this year’s top 500 Chinese enterprises was unveiled in the city of Chengdu in southwest China’s Sichuan Province on Saturday.

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A list of this year’s top 500 Chinese enterprises was unveiled in the city of Chengdu in southwest China’s Sichuan Province.

The Sinopec Group was ranked first, with last year’s revenues reaching 1.97 trillion yuan (307.81 billion U.S. dollars), followed by the China National Petroleum Corp. and State Grid Corp., whose revenues hit 1.72 trillion yuan and 1.53 trillion yuan last year, respectively.

 

 

The rest of the top 10 was rounded out by the Industrial and Commercial Bank of China, China Mobile, China Railway Group, China Railway Construction Corp., China Construction Bank, China Life Insurance Co. and Agricultural Bank of China.

The list is the 10th of its kind to be jointly released by the China Enterprise Confederation and the China Enterprise Directors Association. The threshold for entering the list was raised to 14.2 billion yuan in revenues, an increase over the 11.08-billion-yuan threshold used during the previous year.

Revenues for China’s top 500 companies rose 31.6 percent year-on-year to 36.31 trillion yuan in 2010, while their total assets increased by 18.4 percent to 108.1 trillion yuan, the two organizations said.

via China unveils 2011 list of top 500 companies.

China has 929.84 million mobile phone users

China’s mobile phone operators added 70.83 million new subscribers in the first seven months of this year, bringing the country’s total number of cell phone users to 929.84 million, the MIIT said in a statement on its website.

Fixed-line telecommunication companies, however, lost 4.89 million subscribers during the January-July period.

The total number of third-generation (3G) mobile phone service subscribers expanded to 87.2 million by the end of July, according to the MIIT.

The entire telecommunications industry collected 559.46 billion yuan (87.6 billion U.S. dollars) in business revenues during the January-July period, up 10.1 percent year-on-year, according to the MIIT.

Economics

China’s new three-child policy highlights risks of aging across emerging Asia

Thailand’s (Baa1 stable) total dependency ratio is set to jump nine percentage points to 51% by 2030 – a faster increase than China’s – which will pressure public and private savings through higher taxes and social spending, reducing innovation and productivity gains.

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Street vendor in Bangkok

Population aging in China (A1 stable) and other emerging markets in Asia will hurt economic growth, competitiveness and fiscal revenue, unless productivity gains accelerate, according to a new report by Moody’s Investors Service.

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China

Clear skies over Asia’s new foreign investment landscape?

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Compounding the fallout of the US–China trade war, the global pandemic and recession have caused considerable speculation on the future of foreign investment and global value chains (GVCs). But though there is likely to be some permanent change, it will probably not be as great as politicians expect.

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