Qingdao West Coast New Area (Qingdao WCNA) celebrated the inclusion of three of its companies on the prestigious "Top 500 Chinese Enterprises" list, as announced on Sept 11 by the China Enterprise Confederation and China Enterprise Directors Association at the 2024 China Top 500 Enterprises Summit Forum.
Among the seven Qingdao companies honored, those that stood out as key contributors to Qingdao WCNA's economic prowess were Qingdao Haifa State-owned Capital Investment and Operation Group, Qingdao WCNA Ronghe Holding Group, and Qingdao WCNA Ocean Holdings Group.
A view of Qingdao West Coast New Area. [Photo/CFP]
The 2024 list raised the bar at 47.38 billion yuan ($6.65 billion) and up in annual revenue, an increase of 3.83 billion yuan from the previous year. The Top 500 enterprises reported a total revenue of 110.07 trillion yuan, marking a 1.58 percent increase year-on-year.
Notably, average R&D spending has been on the rise for seven consecutive years, with the total R&D investment now representing 1.9 percent of the total revenue, the highest since 2002.
State Grid Corporation of China led the pack with a staggering revenue of over 3.86 trillion yuan, followed by Sinopec Group and China National Petroleum Corporation at second and third positions, respectively.
Beijing topped the list for the highest number of Top 500 Chinese Enterprises, with Shandong, Guangdong, Zhejiang, and Jiangsu also ranking highly.
Email: xhatg@qd.shandong.cn
Tel: 0532-86812345
Address: No 181 Xihai'an Road, Huangdao district
