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Three Qingdao companies included in Forbes Global 2000 list

(chinadaily.com.cn) | 2020-05-20

Three companies from Qingdao city in East China's Shandong province have been included in this year's Forbes Global 2000, an annual ranking of the top 2,000 public companies in the world by the preeminent Forbes international business magazine.

The ranking is based on a mix of four metrics: sales, profit, assets and market value. The list has been published since 2003.

Haier Group, a leading home appliance maker from Qingdao ranked 502, while Qingdao Rural Commercial Bank and Bank of Qingdao ranked 1,621 and 1,777 respectively.

According to Wind, a financial data provider in China, by the end of April Qingdao Rural Commercial Bank's stock market valuation was 24.7 billion yuan ($3.48 billion). Its operating income reached 8.73 billion yuan and net profit was 2.85 billion yuan in 2019. 

Last year, Bank of Qingdao's revenue reached 9.62 billion yuan and its net profit was 2.34 billion yuan.

The 2020 Global 2000 companies totaled $42.3 trillion in revenues, $3.3 trillion in profits, $201.4 trillion in assets and $54.3 trillion in market capital. Sales and assets were up over last year, while profits and market cap were down.

A total of 367 Chinese companies made the Forbes Global 2000 list. Industrial & Commercial Bank of China topped the list for the eighth straight year. Another four Chinese companies also figured in this year's top 10, namely China Construction Bank (2), Agricultural Bank of China (5), Ping An Insurance Group (7) and Bank of China (10).