中国企业500强出炉 中石化居榜首

Sinopec heads list of country's top earner

State-owned China Petrochemical Corporation, also called Sinopec, was the largest company by revenue, with 1.06 trillion yuan in 2006. It was the only company to top 1 trillion yuan.

Foreign trade dealer Zhucheng Waimao Co Ltd ranked 500. The Shandong province-based company recorded 7.216 billion yuan.

A total of 349 enterprises, or nearly 70 percent of the total in the list, were state-owned or state-controlled. Their combined assets reached 14.9 trillion yuan at the end of 2006, accounting for 85 percent of the total.

Companies in the list witnessed a 23.7 percent increase in revenue and 25.9 percent hike in profits from the previous year.

However, the money-earning performance of the 500 still falls far behind that of the world's top 500 as compiled by Forbes.

China's top performers recorded a modest 4.72 percent on profit margin, lower than the average 7.32 percent of the world's top 500, the CEC report said.

The return on equity of the top 500 was 10.1 percent, much lower than the 16.1 percent of the world's top 500.

"The top 500 China is still mainly ranked in size instead of performance," Li Wei, deputy director of the State-owned Assets Supervision and Administration Commission of the State Council said.

"That is a gap between China and developed countries."

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