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5 Wenzhou enterprises listed on 2022 China’s Top 500
Date:2022-09-12 09:44:45 Source:Wenzhou·China Fonts:[ Large Medium Small ]

On September 6, China Enterprise Federation released the Top 500 China Companies for 21 straight years. Five enterprises from Wenzhou were listed: Tsingshan Holding Group, Chint Group, Delixi Group, Huafon Group, and People’s Electric.

Since 2002, the Top 500 China Companies was compiled and published annually by China Enterprise Federation and the China Entrepreneurs Association. The list shows that the total revenue of the top 500 Chinese companies in 2022 has broken 100 trillion for the first time. Also, the top 500 revenue threshold has been raised for 20 consecutive years. This year, it was 44.625 billion yuan, an increase of 5.389 billion yuan or 13.74% over the previous year.

Among these companies, Tsingshan Holding Group jumped from 80th place to 74th place, becoming the leader of the Wenzhou companies. Last year, Tsingshan focused on developing stainless steel and ferronickel industries and launched many new projects such as the new energy industry, high-grade nickel matte, ultra-thin steel, and stainless-steel battery case. These innovations and developments promote the expansion of its industrial chain, and some business indicators reach a record high. The company has also been listed on the Fortune Global 500 for four consecutive years. In addition, Chint Group advanced from 244th to 235th.

From the five listed companies, we can see that manufacturing is still the pillar industry of Wenzhou’s economy. Chint, Delixi and People’s Electric are all leading companies in the electrical industry. Huafon Group is mainly engaged in new chemical materials, manufacturing industries such as polyurethane, polyamide, aluminum foil materials, and degradable plastics, as well as new industries such as smart home, digital economy, LNG, and service industry, such as logistics, finance, and trade. Moreover, it is the world’s leading polyurethane products and materials producer and seller.

Besides, some companies established by Wenzhou business people, such as Duofu Group Co., Ltd. and Vipshop Holdings Co., Ltd., are listed on the Top 500 China Companies 2022.