Revenue of China's Top 500 Companies Reaches Record 110 Trillion Yuan
According to a ranking report released on Wednesday, China's top 500 enterprises reached a remarkable achievement last year, with revenues soaring to a record 110 trillion yuan ($15.4 trillion). The annual report noted a 1.58 percent rise in total revenues, reaching 110.07 trillion yuan in 2023.
TroibNews 
China's top 500 enterprises reached a remarkable achievement last year, with their revenues soaring to a record 110 trillion yuan, as detailed in an industrial ranking report published on Wednesday.
The annual report, released by the China Enterprise Confederation and the China Enterprise Directors Association, indicated a year-on-year revenue increase of 1.58 percent, amounting to a total of 110.07 trillion yuan in 2023, as reported by China Central Television.
This year’s list saw the entry threshold rise to 47.38 billion yuan, an increase of 383 million yuan compared to the previous year.
The rise in revenues signifies a significant advancement for China’s leading firms, according to Zhu Hongren, executive vice-president of the China Enterprise Confederation.
“This year’s rankings reflect the deepening focus on innovation and quality development among China’s largest corporations, setting a robust precedent for future economic growth,” Zhu explained.
He also emphasized that improvements in development quality have been evident, noting that top enterprises are prioritizing high-quality development while ensuring stable overall growth.
"Strategic emerging industries are crucial carriers for the development of new quality productive forces in our country. The list shows significant progress and a substantial increase in both revenue and profits in these sectors, driven by major enterprises," Zhu remarked.
Additionally, the report featured specialized rankings, including the Top 100 Strategic Emerging Industry Enterprises, Top 500 Service Enterprises, and Top 100 Multinational Companies.
Ian Smith contributed to this report for TROIB News
The annual report, released by the China Enterprise Confederation and the China Enterprise Directors Association, indicated a year-on-year revenue increase of 1.58 percent, amounting to a total of 110.07 trillion yuan in 2023, as reported by China Central Television.
This year’s list saw the entry threshold rise to 47.38 billion yuan, an increase of 383 million yuan compared to the previous year.
The rise in revenues signifies a significant advancement for China’s leading firms, according to Zhu Hongren, executive vice-president of the China Enterprise Confederation.
“This year’s rankings reflect the deepening focus on innovation and quality development among China’s largest corporations, setting a robust precedent for future economic growth,” Zhu explained.
He also emphasized that improvements in development quality have been evident, noting that top enterprises are prioritizing high-quality development while ensuring stable overall growth.
"Strategic emerging industries are crucial carriers for the development of new quality productive forces in our country. The list shows significant progress and a substantial increase in both revenue and profits in these sectors, driven by major enterprises," Zhu remarked.
Additionally, the report featured specialized rankings, including the Top 100 Strategic Emerging Industry Enterprises, Top 500 Service Enterprises, and Top 100 Multinational Companies.
Ian Smith contributed to this report for TROIB News
