Ten Fujian companies listed among top 500 enterprises nationwide

Industrial Bank Co, head-quartered in Fujian, ranks 53rd on the latest list of top Chinese enterprises. [Photo provided to chinadaily.com.cn]

A total of ten Fujian companies secured slots on the latest list of the top 500 Chinese enterprises, one more than last year.

This year the annual revenue threshold for companies eligible to be listed surpassed 30 billion yuan for the first time, about 15 times that of 16 years ago.

The total revenues for China's top 500 companies exceeded 70 trillion yuan for the first time, with an 11.2 percent year-on-year increase reaching 71.7 trillion yuan.

With operating revenues reaching 2.4 trillion yuan ($351.4 billion) in 2017, the State Grid topped the list, followed by the Sinopec Group and the China National Petroleum Corp.

Fujian's Industrial Bank Co ranked 53rd, with operating revennues reaching 307.4 billion yuan last year. Three other Fujian-based companies, Xiamen ITG Holding Ground, Xiamen C&D and Xiamen Xiangyu Group, also made the top 100.

The top 500 Chinese enterprise list is jointly compiled and released annually by the China Enterprise Confederation and China Entrepreneur Association.