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The latest lists citing the "50 Biggest Companies in Guangdong" and "50 Biggest Industrial Companies in Guangdong" were recently released. The Southern Power Grid Co., Ltd., Hongfujin Precision Industry Co., Ping An Insurance (Group) Co., and China Petroleum & Chemical Corporation Guangdong Branch still rank the four largest companies, with the ranking of the Guangzhou Automobile Group Co., Ltd. going up by one to the No. 5 position.
The Southern Power Grid, Guangdong Mobile, Guangdong Telecom, China Merchants Bank, and China National Offshore Oil Corporation Shenzhen Branch achieved a profit of over RMB 10 billion respectively which, when totaled, exceed half of the benefits earned by the top 50.
"In terms of ranking, there is no big change for the top 50 and industrial top 50, however the earning capacity for the top 50 increased rapidly." said persons from the Guangdong Statistical Bureau and Guangdong Economic and Trade Commission in c harge of compiling the two lists. The profits of these biggest 50 companies increased by 21% as compared with the last ranking list, and the total assets amounted to over RMB 3000 billion, up over 20%.
According to the Guangdong Statistical Bureau, these biggest 50 companies are mostly old faces. Yet there are 5 newcomers including the OCT Group, CNOOC and Shell Petrochemicals Co., Ltd., (Shenzhen) International System Technology Company, Shenzhen Telling Communications Corp. and Dongfeng Honda Engine Co., Ltd.. "So, the ranking of the 50 biggest companies in Guangdong is generally steady with little change".
(Translated by Guangzhou Association of Foreign Affairs Translators)
2007-07-09 08:45 Source£şEnnglish.gz.gov.cn
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