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Top 10 Chinese companies by revenue
Here are the top 10 Chinese companies by revenue:
No 10 Bank of China
Fortune Global 500 2014 rank: 59
Revenue: $105,622.6 million
Profit: $25,520.5 million
No 9 China Mobile Communications
Fortune Global 500 2014 rank: 55
Revenue: $107,647.3 million
Profit: $9,197.9 million
No 8 China State Construction Engineering
Fortune Global 500 2014 rank: 52
Revenue: $110,811.6 million
Profit: $1,853.2 million
No 7 Agricultural Bank of China
Fortune Global 500 2014 rank: 47
Revenue: $115,392.1 million
Profit: $27,050 million
No 6 China Construction Bank
Fortune Global 500 2014 rank: 38
Revenue: $125,397.7 million
Profit: $34,912.5 million
No 5 Hon Hai Precision Industry
Fortune Global 500 2014 rank: 38
Revenue: $133,161.7 million
Profit: $3,594.8 million
No 4 Industrial & Commercial Bank of China
Fortune Global 500 2014 rank: 25
Revenue: $148,802.6 million
Profit: $42,718.1 million
The bank, commonly referred to as ICBC, is the world’s largest by asset size and for years has reported a steady streak of net profit and total asset growth.
ICBC kicked off 2014 by agreeing to pay $765 million deal to buy a controlling interest in Standard Bank Group’s London-based Global Markets business.
While Chinese banks reported slower earnings growth and higher credit impairment charges in 2013, some observers say capitalization levels remain steady for ICBC and other peers.
No 3 State Grid
Fortune Global 500 2014 rank: 7
Revenue: $333,386.5 million
Profit: $7,982.8 million
China’s largest State-owned energy company has been looking abroad for new business. In 2013, it acquired SP AusNet, a power company in Australia formerly owned by Singapore Power International.
The company also bought 60 percent of SPI (Australia) Assets Pty Ltd, another Australian power company. This year, State Grid has also won a bid for a project in Brazil.
No 2 China National Petroleum
Fortune Global 500 2014 rank: 4
Revenue: $432,007.7 million
Profit: $18,504.8 million
Along with competitor Sinopec, China National Petroleum, also known as PetroChina, rose a spot this year after posting a 5.7 percent increase in sales. With a 30-year deal for Russian gas signed in May, the State-owned company is in a good spot for future growth.
No 1 Sinopec Group
Fortune Global 500 2014 rank: 3
Revenue: $457,201.1 million
Profit: $8,932.1 million
The oil and gas producer in China has enjoyed a 6.8 percent growth in sales since 2012, primarily due to its extensive distribution network in the country.
Reports say Sinopec, also called China Petroleum & Chemical, is getting about 50,000 barrels a day. The goal is to increase the production to 135,000 barrels per day.