Top 1,000 Firms Increase Profits Last Year
China‘s top 1,000 industrial firms, or 0.36 percent of the total, generated 34.7 percent of the core business income of all firms last year.
China‘s top 1,000 industrial firms, or 0.36 percent of the total, generated 34.7 percent of the core business income of all firms last year, according to the National Bureau of Statistics.
Shanghai-based Baosteel Group tops the list with core business income of 161.76 billion yuan (US$19.95 billion).
Motorola (China) Electronics Ltd, ninth on the list with core business income of 64.68 billion yuan (US$7.97 billion), is the largest industrial firm among foreign-funded companies.
Qiu Xiaohua, deputy commissioner of the National Bureau of Statistics, said the top 1,000 industrial firms, selected in accordance with international standards, are important pillars of China‘s industrial economy.
The core business income of the 1,000 firms increased 31.2 per cent last year compared with 2003.
The firms‘ total assets were up 27.3 per cent in 2004, and their profits rose 27.6 per cent.
The size of the firms increased and their competitiveness improved further, Qiu said.
The 1,000 firms, a majority of which are State-owned, shareholding or foreign-funded, mainly engage in businesses such as electronics, telecommunications, steel, oil-processing and auto-manufacturing.
Of the 1,000, 663 are located in the eastern areas, 211 in the central areas and 126 in the western areas.
The top 10 firms in terms of profit, from sectors such as oil exploration, steel, auto-making, electronics and telecommunications, recorded combined profits of 180.5 billion yuan (US$22.3 billion), accounting for 33.9 per cent of the profits of the 1,000 firms.
Shanghai-based Baosteel Group tops the list with core business income of 161.76 billion yuan (US$19.95 billion).
Motorola (China) Electronics Ltd, ninth on the list with core business income of 64.68 billion yuan (US$7.97 billion), is the largest industrial firm among foreign-funded companies.
Qiu Xiaohua, deputy commissioner of the National Bureau of Statistics, said the top 1,000 industrial firms, selected in accordance with international standards, are important pillars of China‘s industrial economy.
The core business income of the 1,000 firms increased 31.2 per cent last year compared with 2003.
The firms‘ total assets were up 27.3 per cent in 2004, and their profits rose 27.6 per cent.
The size of the firms increased and their competitiveness improved further, Qiu said.
The 1,000 firms, a majority of which are State-owned, shareholding or foreign-funded, mainly engage in businesses such as electronics, telecommunications, steel, oil-processing and auto-manufacturing.
Of the 1,000, 663 are located in the eastern areas, 211 in the central areas and 126 in the western areas.
The top 10 firms in terms of profit, from sectors such as oil exploration, steel, auto-making, electronics and telecommunications, recorded combined profits of 180.5 billion yuan (US$22.3 billion), accounting for 33.9 per cent of the profits of the 1,000 firms.
