China's Top 500 Enterprises catching up with global giants

(Xinhua)
Updated: 2008-08-30 19:33

Poor supply chain management also lagged behind. Logistics cost still accounted for much of the total output, twice that of the world average. Haier and Huawei were among the few enterprises that paid adequate attention to supply chain management.

Sinopec Corp, Asia's top oil refiner, retained top spot for the fourth straight year on the Top 500 Chinese Enterprises list with its business revenue exceeding 1.2 trillion yuan, (US$175.2 billion), the China Enterprise Confederation (CEC) said on Saturday.

The oil giant was followed by the State Grid and PetroChina Company.

The top 500 companies paid taxes of 1.74 trillion yuan, accounting for 35.2 percent of the national tax revenue.

Baosteel Group Co. and China FAW Corporation and Hongfujin Precision Industry (Shenzhen) Co. held the top three positions in manufacturing sector.

The State Grid Corp. of China, the Industrial and Commercial Bank of China and China Mobile ranked the top three in the service sector.

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