On July 13, the world's authoritative financial magazine, Fortune (Chinese version), released the ranking of 2016 Top 500 in China. CGGC takes over the 70th position which is 9 places higher than that of last year sitting on good revenues of RMB 82.3 billion for operation and of RMB 2.7 billion for profit.
Observed from the ranking this year, 500 companies on the list show a total operating income of about RMB30.77 trillion, 1.2% more than last year, and a net profit of RMB2.74 trillion, about 1.5% more than last year, while the growing rates of these two indexes (5% and 6% respectively) declines compared to 2015.
In the context of sluggish world economic recovery, declining domestic economy, deteriorating performance of central enterprises and severe plight of construction enterprises, CGGC people have firmly implemented CGGC Guiding Opinions and promoted structural adjustment, transformation, upgrade, reform, innovation and science & technology progress in a wise and accountable manner. With profound reform of its growth pattern, CGGC has formed eight sectors including investment, construction, environmental protection, real estate, cement, industrial explosives, equipment manufacturing and finance that advance together in harmony. The Group has fundamentally perfected the business structure, substantially improved its profitability and investment capability and quickly lifted its asset scale and its position in this industry. Compared to the previous year, CGGC achieves a 14.9% rise in operating income and a 17.3% increase in profit, much higher than the average growth rate of companies on the list.
Fortune's Top 500 of China picks up the 500 largest listed Chinese companies from those listed on Shanghai and Shenzhen stock exchanges and those listed overseas with principal business operated in mainland China. This year, Fortune issues the top 500 list for the 7th time since its first release in 2010.
Fortune magazine belongs to Time Inc. owned by Time Warner Inc., the media magnate in the USA. The Global Top 500 list has been playing a huge impact by absorbing eyes of economic circles since its first unveiling in 1954.
