China's top 500 firms break 100 trillion yuan revenue threshold

Top 500 Chinese firms break the 100 trillion yuan ($14.42 trillion) operation revenue threshold for the first time in 2022, according to the latest Top 500 Chinese Enterprises released by the Chinese Enterprise Confederation on Sept 6.

The 2022 top 500 firms realized a fast growth in operation revenue, totaling 102.48 trillion yuan, an increase of 12.65 trillion yuan or 14.08 percent from a year earlier. Their total asset was registered at 372.53 trillion yuan, 28.95 trillion yuan higher than the top 500 last year, up 8.43 percent. The threshold to be included in the top 500 has continued to rise for 20 straight years with this year's threshold lifted to 44.63 billion yuan, up 13.74 percent from previous year.

The number of firms with operation revenue higher than 1 trillion yuan expanded to 12, for the first time reaching a number higher than 10. Among the top 500 this year, 244 firms saw their operation revenue reach over 100 billion yuan, accounting for nearly 50 percent of the total firms, and an increase of 22 percent from last year's ranking.

Zhong Hongren, executive vice-president of China Enterprise Confederation, said that in the past 10 years, the total operation revenue of China's top 500 firms surged from 50.02 trillion yuan to 102.48 trillion yuan with refined industrial structure and remarkable improvement in the performance of production giants.