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7 Wenzhou Enterprises Listed in China's Top 500
【Fonts: Large Medium Small 【Source: Wenzhou·China 【Date: 2020.10.10】

The 2020 China Top 500 Enterprises Summit was held on September 28th in Zhengzhou by China Enterprises Union and China Entrepreneurs Association releasing the list of China's top 500 enterprises 2020. The top 3 Enterprises are Sinopec, State Grid Corporation of China (State Grid), and PetroChina. There are 7 Wenzhou enterprises on the list, with an increase of two enterprises compared to the previous year. Among which Tsingshan Holding Group Co., Ltd. ranks the highest, i.e. 84th among the 500.

The seven Wenzhou enterprises on the China's top 500 enterprises list are Tsingshan Holding Group, Vipshop, Chint Group Co., Ltd., Delixi Group, Zhongliang Holdings Group, People Electrical Appliance Group Co., Ltd., and Semir Group Co., Ltd. Especially, Tsingshan Holding Group was the only one whose revenue soared to around 100 billion yuan in Wenzhou. This year, Tsingshan Holding Group, up six places from its 2019 ranking, with 262.6-billion-yuan revenue scale, ranks the third largest Chinese steel enterprise, only behind China Baowu Steel Group Corporation Limited and HBIS Group Co., Ltd.

On this year's list, 41 enterprises are new entrants, including two Wenzhou enterprises namely Zhongliang Holdings Group and Semir Group. The former appeared on the list in a relatively high 338th place, ranking among the top three fastest growing companies in net assets and the top 10 fastest growing companies in revenue. Semir Group ranked 461st with 39.5 billion yuan in revenue. Vipshop, Chint Group, Delixi Group, People's Electrical Appliances, and other enterprises in the list basically kept stable, fluctuating within the 10th.

According to a report released by the sponsor, the number of enterprises among the top 500 Chinese enterprises in 2020 with revenue of more than 100 billion yuan rose to 217, a net increase of 23 from the previous year, of which 8 had revenue of more than 1 trillion yuan. The total revenue of the top 500 reached 86.02 trillion yuan, growing 8.75% from the previous year. Net profit reached 3.892414 trillion yuan, an increase of 10.2% over the previous year. The entry standard of the top 500 continues to rise. This year's revenue has reached 35.961 billion yuan, an increase of 3.636 billion yuan over the last year.


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