Recently, the China Enterprise Confederation and the China Enterprise Directors Association have released a list and report of the "Top 500 Chinese Enterprises". State Grid, Sinopec and PetroChina continue to be ranked among the top three, with 100 Beijing local enterprises listed in the top 500, ranking the first among the provinces and cities of China.
It is reported that this year's threshold of "2018 Top 500 Chinese Enterprises" exceeds RMB 30 billion for the first time, achieving 16 consecutive increases in amount. The total turnovers of enterprises has broken through RMB 70 trillion for the first time, reaching RMB 71.17 trillion, the turnovers increase by 11.20% compared with the last year, and the growth rate has accelerated by 3.56 percentage points, returning to the double-digit growth range.
On the list, there are 172 enterprises with turnovers exceeding RMB 100 billion, significantly increasing by 15 compared with 157 enterprises last year, and the number of increased enterprises reaches to a new high in recent years. Among them, finance, telecommunications and internet services, and the real estate industry are the most profitable. The top 10 enterprises in total profit are Industrial and Commercial Bank of China, China Construction Bank, Agricultural Bank of China, Bank of China, State Development Bank, Ping An, Tencent, China Mobile, China Merchants Bank and Bank of Communications.
At the same time, the net profits of the "2018 Top 500 Chinese Enterprises" increase by 13.28% compared with the last year, reversing a three-year decline in growth and reaching the highest level since 2013.
The return on assets of the top 500 enterprises is 1.17%, increasing by 0.07 percentage points compared with the last year; the profit margin on turnovers is 4.50%, increasing by 0.08 percentage points compared with the last year; the core return on net assets is 9.34%, increasing by 0.14 percentage points compared with the last year, which is the first time that the return on net assets has risen since the "2012 Top 500 Chinese Enterprises" and has reversed the unfavorable decline trend of return on net assets of the Top 500 Chinese Enterprises for 5 consecutive years.
In terms of R&D investment, the total R&D expenditure of the Top 500 Chinese Enterprises in 2018 is RMB 895.089 billion, increasing by RMB 159.159 billion compared with the last year with an increase rate of 21.63%. The average R&D intensity of the top 500 enterprises is 1.56%, which is the second highest since the existence of statistics of R&D intensity of the "Top 500 Chinese Enterprises".
In addition, in terms of patents declaration, the number of patents declared by the "2018 Top 500 Chinese Enterprises" amount to 955,500, increasing by 29.60% compared with the last year with a growth rate of 15.14 percentage points compared with the last year; 345,500 patents for invention have been declared, significantly increasing by 51.72% compared with the last year with a growth rate of 31.79 percentage points compared with the last year.
What is more noteworthy is that the momentum of structural optimization of China's large enterprises has not been reduced, and the new kinetic energy has been continuously enhanced. The "2018 Top 500 Chinese Enterprises" involve 77 three-level and subdivided industries. The number of enterprises in traditional fields is decreasing and the number of enterprises in new and high-tech industries and modern service industries is continuously increasing. A number of large international enterprises with new technologies, new products and new models have become the new highlights of the "Top 500 Chinese Enterprises".