2022 Top 500 Chinese Enterprises Released, 55 Petroleum and Chemical Enterprises on the List

The China Enterprise Confederation and the China Entrepreneurs Association released the 2022 Top 500 Chinese Enterprises list, and 55 petroleum and chemical companies were on the list.

Among the 55 companies on the list, China National Petroleum Corporation, China Petroleum and Chemical Corporation, and Sinochem Holding Co., Ltd. ranked second, third, and ninth respectively. China National Offshore Oil Corporation, Hengli Group Co., Ltd., Zhejiang Rongsheng Holding Group Co., Ltd., Shaanxi Coal Industry Chemical Group Co., Ltd., Shenghong Holding Group Co., Ltd., Shaanxi Yanchang Petroleum (Group) Co., Ltd., and Zhejiang Hengyi Group Co., Ltd. entered the top 100.

The list data shows that the total operating income of the top 500 companies in 2021 exceeded the 100 trillion yuan mark for the first time, reaching 102.48 trillion yuan, an increase of 14.08% over the previous year, the largest increase in the past 10 years. The number of companies with revenue exceeding 100 billion yuan increased to 244, accounting for nearly 50%, with a net increase of 22; 12 companies had revenue exceeding 1 trillion yuan, an increase of 4 over the previous year.

It is understood that last year, the operating income and profit of my country's petrochemical industry hit a record high, and the number of industry enterprises entering the top 500 list increased significantly. Among them, the petrochemical and coking industries increased by 4, and the chemical raw materials and chemical manufacturing industries increased by 2. Zhejiang Satellite Holding Co., Ltd., Wanhua Chemical Group Co., Ltd., and Xinjiang Zhongtai (Group) Co., Ltd. have a revenue growth rate of more than 90%, ranking among the 10 fastest-growing companies. Tianye Group entered the top 400 for the first time. In 2021, Tianye Group aims to build a "hundred-billion-level industrial group", focusing on biodegradable materials, carbon-based new materials, modern agriculture, modern logistics and other fields to develop enterprise development, and comprehensively enhance development stamina and tenacity.

In the "global arena", the performance of Sinopec enterprises is particularly outstanding. Among the "2022 Top 100 Chinese Multinational Companies" generated by the ranking of overseas assets, PetroChina ranked first for 11 consecutive years, Sinochem, which was formed by the merger of ChemChina and Sinochem, ranked second, and Sinopec ranked second. Fourth place, CNOOC ranked seventh.

Although the development of Chinese enterprises has made great achievements, and many enterprises have entered the forefront of the world, it should also be seen that large Chinese enterprises still have a long way to go to become stronger and better. Zhu Hongren, executive vice president and chairman of the China Enterprise Confederation, said that measured by the comprehensive standards of world-class and international competitiveness, there are not enough first-class companies in my country that can truly lead the development of global technology and industry, and their comprehensive competitiveness is not strong. The problem is still more prominent. Compared with enterprises in advanced countries, the problems of low technology level, weak profitability, weak innovation ability, low industrial level and insufficient brand influence of Chinese enterprises are still more prominent.