On September 6, China Enterprise Confederation and China Enterprise Directors Association released the 2022 list of the top 500 Chinese enterprises. Six Hunan enterprises were on the list.

The new list was the 21st one jointly issued by the China Enterprise Confederation and China Enterprise Directors Association. The list, in line with international practices, takes 2021 corporate operating income as entry threshold.

The revenue threshold of the top 500 Chinese enterprises in 2022 increased by 5.389 billion yuan from a year ago to 44.625 billion yuan. Combined revenues of the top 500 firms reached 102.48 trillion yuan in 2021, up 14.08% year on year. The growth rate hit a record high in the past ten years. The number of firms with revenues above 100 billion yuan rose to 244. China ranks first in the world in the number of Fortune Global 500 companies.

The six Hunan enterprises on the 2022 list included:

--Hunan Iron & Steel Group Co., Ltd., with a revenue of 219.706 billion yuan in 2021, ranking 120th;

--Sany Group, with a revenue of 154.56 billion yuan in 2021, ranking 170th;

--Hunan Construction Engineering Group, with a revenue of 121.337 billion yuan in 2021, ranking 210th;

--Dahan Group, with a revenue of 67.532 billion yuan in 2021, ranking 333rd;

-- Zoomlion Heavy Industry Science & Technology Co., Ltd., with a revenue of 67.13 billion yuan, ranking 335th; and,

--Hunan Bochang Holding Group Co., Ltd., with a revenue of 62.157 billion yuan in 2021, ranking 360th.

Hunan Iron & Steel Group was the only Hunan enterprise that made the list of the Fortune Global 500 for the first time this year. Sany Group and Zoomlion are the leading enterprises in construction machinery industry which is a competitive industry in Hunan. Hunan Construction Engineering Group achieved remarkable development in 2021, with business turnover exceeding 200 billion yuan. Dahan Group is engaged in steel trade logistics, new urbanization development, vocational education and other fields. Hunan Bochang Holding Group was developed from Lengshuijiang Iron and Steel Plant, and its business expands to various industries such as iron and steel metallurgy, electric power, and logistics.

This article is from the Hunan Provincial Government www.enghunan.gov.cn.

Translator: Xiao Juan

Chinese source: hunan.gov.cn