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US "Fortune" magazine, issue September 13, published ahead of time, has appraised and selected "top 100 Chinese listed companies 2003" in accordance with their annual business incomes, the first 10 companies ranked in order respectively are: Sinopec, Petro-China, China Mobile, China Telecom, China Life Insurance, China Unicom, the People's Property Insurance of China, Five Minerals Development, Baoshan Steel Group Co. Ltd. and the China National Offshore Oil Company.
The list of the "top 100 Chinese listed companies 2003" was completed jointly by "Fortune" (Chinese Edition) and HK-based Finet Group. The scope of selection through appraisal encompasses Chinese companies listed in the markets of China's inland, China's Hong Kong, New York, Singapore and London. The various companies are placed in order on the basis of the 2003 business volumes provided by these firms to related securities exchanges. It is reported that this year is the fourth time that "Fortune" (Chinese Edition) published the list of "top 100 Chinese listed companies".
The threshold for the inclusion of "top 100 Chinese listed companies" this year has again dramatically raised, with the business volume being raised from 4.45 billion yuan in 2002 to 5.99 billion yuan, a 35 percent rate of increase. On the ranking lists published in 2000 and 2001, the business income of the company placed the last one was 3 billion yuan and 3.3 billion yuan respectively, These figures reflect the rapid growth and change of the Chinese economy and its listed companies. According to the estimate of the "Fortune" magazine, in the next three years, the qualifications for being included into the "top 100 Chinese listed companies" will be raised to 10 billion yuan, equivalent to the scale of medium-sized enterprises in the world.
The year 2003 witnessed the continued growth of China's securities market. Under the background of sustained economic growth and the gradual standardization of markets, more listed firms were carrying out IPO (initial public offer) in internal and external markets, in the meantime, listed companies scored greater achievements. What's more, because large State-owned enterprises vie with one another for restructuring and listing, listed companies have augmented their strength. For example, the China Life Insurance Company and the People's Property Insurance Company of China were placed fifth and seventh respectively as they appeared on Hong Kong markets.
The enterprises chosen and included into the "top 100 Chinese listed companies" are distributed mainly in petroleum and natural gas, iron and steel, communication and auto-making industries. For instance, Sinopec, Petro-China and China Mobile, which were ranked the first three A for four straight years, the business incomes of the iron and steel industrial enterprises, such as Baoshan Steel (ranked 9th) the Shaoshan Steel Songshan (81st) and Guangzhou Iron and Steel (92nd) have surged dramatically, the incomes of auto-building enterprises represented by the Chang'an Automotive (ranked 33rd) and Beijing Auto Fukuda (38th) have grown by more than 50 percent, thus further raising their status on the list.
The gross incomes of communication enterprises in 2003 had a 70 percent increase year on year. . Besides the three telecommunication giants¡ªChina Mobile, China Telecom and China Unicom which are placed among the top 10, the Zhongxing Communication (ranked 27th), Ningbo Bird (58th) and Amoi (88th) have continued to raise their position on the list.
Source: People's Daily Online
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