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CSCEC Ranks No. 3 on 2019 Fortune China 500 List
July 11, 2019
KEYWORDS: CSCEC Fortune China 500
CCA parent company CSCEC has been ranked third on the 2019 Fortune China 500 list. CSCEC continued to hold its position as the highest-ranked Chinese company in the investment and construction industry.
In 2018, CSCEC has made great strides globally and remains the world’s largest investment and construction group with approximately $174 billion in revenue and more than $5.5 billion in profit. The company has continued to work on numerous large-scale construction projects. CSCEC also has maintained the highest credit rating of “A” by Standard & Poor’s, Moody’s and Fitch, which is the highest in the global engineering and construction industry.
The 500 Chinese companies on the list generated RMB45.5 trillion in revenue, up 14.8 percent year-over-year, hitting another record high. Net profit rose 4.21 percent year-over-year to RMB3.625 trillion. The annual revenue threshold for companies on the list this year is RMB16.238 billion, an increase of 17 percent year-over-year. The total revenue of the 500 companies in 2018 once again accounted for more than a half of China’s GDP. The top three companies remain CNPC, SINOPEC and CSCEC.
Fortune China 500, compiled by Fortune (China) and the Wealth Management Department of China International Capital Corporation (CICC), assesses the financial results and business performance of the biggest Chinese companies in the past year. Fortune China 500 is recognized as one of the most reputable and popular rankings of the top 500 listed companies in China.
In 2018, CSCEC has made great strides globally and remains the world’s largest investment and construction group with approximately $174 billion in revenue and more than $5.5 billion in profit. The company has continued to work on numerous large-scale construction projects. CSCEC also has maintained the highest credit rating of “A” by Standard & Poor’s, Moody’s and Fitch, which is the highest in the global engineering and construction industry.
The 500 Chinese companies on the list generated RMB45.5 trillion in revenue, up 14.8 percent year-over-year, hitting another record high. Net profit rose 4.21 percent year-over-year to RMB3.625 trillion. The annual revenue threshold for companies on the list this year is RMB16.238 billion, an increase of 17 percent year-over-year. The total revenue of the 500 companies in 2018 once again accounted for more than a half of China’s GDP. The top three companies remain CNPC, SINOPEC and CSCEC.
Fortune China 500, compiled by Fortune (China) and the Wealth Management Department of China International Capital Corporation (CICC), assesses the financial results and business performance of the biggest Chinese companies in the past year. Fortune China 500 is recognized as one of the most reputable and popular rankings of the top 500 listed companies in China.
