2020 Top 500 Chinese Private Enterprises: 57 Chemical Companies on the List

The 2020 China Top 500 Private Enterprises Summit hosted by the All-China Federation of Industry and Commerce was held in Beijing. According to the ranking of the total operating income in 2019, the 2020 China Top 500 Private Enterprises List was released at the conference. Huawei Investment & Holding Co., Ltd. re-ranked the top 500 private companies with a revenue of 858.8 billion yuan. Compared with previous years, the top 500 entry threshold in 2020 exceeded 20 billion yuan for the first time, reaching 20.204 billion yuan, with 57 petroleum and chemical companies on the list.

According to the list, there are 6 petroleum and chemical companies on the list with revenue exceeding 100 billion yuan, one more than last year, and 12 companies with 50 to 100 billion yuan, two more than last year. Among them, Hengli Group Co., Ltd. ranked 4th on the top 500 list with a revenue of 556.7 billion yuan, 4 positions higher than last year, and became the first chemical company to enter the top 5 private enterprises. After 2017, it has ranked first in the industry for 4 consecutive years. With the completion and commissioning of Dalian Changxing Island Hengli Petrochemical, the company's revenue has reached two hundred billion yuan, from 371.7 billion yuan in 2018 to 556.7 billion yuan last year, showing a rapid growth.

Other top 10 private chemical companies are: Zhejiang Hengyi Group Co., Ltd. (No. 17), Zhejiang Rongsheng Holding Group (No. 19), Shenghong Holding Group Co., Ltd. (No. 22), Shandong Dongming Petrochemical Group Co., Ltd. (No. 44), Jiangyin Chengxing Industrial Group Co., Ltd. (No. 48), Wanda Holding Group Co., Ltd. (No. 65), Transchem Group Co., Ltd. (No. 66), Lihuayi Group Co., Ltd. (No. 68), Tongkun Holding Group Co., Ltd. (No. 85).

Compared with last year's list, the list of the top 10 private enterprises in the petroleum and chemical industries has not changed, but the rankings in the top 500 list have moved forward compared with last year. Benefiting from the start-up of Zhejiang Petrochemical, Rongsheng Holding Group moved forward 12 positions and ranked among the top three in the industry; Shenghong Holding Group, which ranked No. 3 in the industry last year, retreated to No. 4 in the industry, and ranked 7th and 8th in the industry last year. Wanda Holding Group and Jiangyin Chengxing Group have also swapped positions. Among them, Jiangyin Chengxing Group's revenue exceeded 100 billion yuan for the first time, making it a 100 billion club.

Experts pointed out that private enterprises in Jiangsu and Zhejiang represented by Hengli, Hengyi, Rongsheng, Tongkun, etc., which started with textiles and chemical fiber, have sprung up, stepping up to their origins, entering the petrochemical industry, and developing rapidly.

Among the petroleum and chemical companies on the list, according to sub-sectors, there are 28 petroleum processing industries, 17 chemical raw materials and chemical products manufacturing industries, 6 chemical fiber manufacturing industries, and 6 rubber and plastic products industries. By region, Shandong has 22 chemical companies on the list, of which 18 are local refinery companies, demonstrating the absolute strength of the largest chemical province; Jiangsu and Zhejiang each have 9 major chemical provinces, and Liaoning and Guangdong each have 4 , 3 companies in Fujian, 2 companies in Hebei and Shanxi, 1 chemical company in Tianjin and Hubei.

The theme of this summit is "Promoting entrepreneurship and stimulating the vitality of market players". Gao Yunlong, vice chairman of the National Committee of the Chinese People’s Political Consultative Conference and chairman of the All-China Federation of Industry and Commerce, pointed out in his speech that in the face of the increasing downward pressure on the economy and the increasing impact of economic and trade frictions last year, the majority of private entrepreneurs vigorously promoted outstanding entrepreneurship, strengthened their confidence and faced difficulties. On the other hand, we actively promoted the supply-side structural reform, and continuously made new achievements and achieved new breakthroughs in improving enterprise quality and efficiency, optimizing enterprise scale and structure, and promoting enterprise transformation and upgrading.