China released the list of top 500 Chinese enterprises for 2021, showing improved business performance and better industrial structure. This was reported by The Xinhua News Agency.
Combined operating revenues of the top 500 companies reached ¥89.83 trln (about $13.9 trln) in 2020, up 4.43% compared to that in the previous year, according to the list jointly released by the China Enterprise Confederation and the China Enterprise Directors Association.
The firms raked in ¥4.07 trln in total profits, up 4.59% compared to that of the companies on the 2020 list.
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 top 500 Chinese enterprises increased by ¥3.28 bln from a year ago to ¥39.24 bln, the data showed.
The number of companies whose revenues exceeded ¥100 bln rose to 222, with eight of them reporting revenues of over ¥1 trln.
This year's list also showed an improved industrial structure, as more high-tech and modern services companies such as communication equipment makers and logistics firms were included.
The average R&D spending of the top 500 firms came in at ¥2.94 bln, up 17.95%. The ratio of their R&D expenditure to operating revenues hit a new high of 1.77%.
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