More than 60 chemical companies have entered China's top 500 Enterprises in 2023

On September 20, the China Enterprise Confederation and China Entrepreneur Association released the list of China's Top 500 Enterprises in 2023, with more than 60 oil and chemical companies on the list.

In 2022, China's petrochemical industry achieved operating income of 16.56 trillion yuan, an increase of 14.4% year-on-year, reaching a new record high, and achieved a total profit of 1.13 trillion yuan, which remained above one trillion yuan for two consecutive years. With the support of excellent performance, the number of petroleum and chemical enterprises on the list has increased significantly over the previous year.

Among the more than 60 companies on the list, China National Petroleum Corp., China Petroleum and Chemical Corp., and Sinochem Holdings Co., Ltd. ranked second, third and ninth, respectively. China National Offshore Oil Group Co., LTD., Hengli Group Co., LTD., Zhejiang Rongsheng Holding Group Co., LTD., Shaanxi Coal Chemical Industry Group Co., LTD., Shenghong Holding Group Co., LTD., Zhejiang Hengyi Group Co., LTD., Shaanxi Yanchang Petroleum (Group) Co., LTD.

In the top 500 manufacturing enterprises in China in 2023, the heavy chemical industry still occupies the main position, and four of the five industries with the largest operating income are heavy chemical industries. Petroleum and chemical industry as an important pillar industry status more prominent, Sinopec ranked first with 3.17 trillion revenue, China Sinochem ranked second with 1.17 trillion revenue, in addition, China Hengli Group, Zhejiang Rongsheng Holding Group, the two chemical companies also entered the top ten.

In the "global arena", the performance of Chinese petrochemical companies is particularly outstanding. In the "2023 Top 100 Chinese multinational companies" list, China National Petroleum Corporation Limited still ranked first, China National Chemical Holding Company Limited ranked second, China Petroleum and Chemical Corporation Limited ranked third, and China National Offshore Oil Corporation Limited rose one place from last year to rank sixth.

The list data show that the operating income of China's top 500 enterprises in 2022 continues to grow, and the total revenue once again breaks the 100 trillion mark, reaching 108.36 trillion yuan, an increase of 5.74% over the top 500 enterprises in the previous year. The entry threshold has been raised for 21 consecutive years, rising to 46.998 billion yuan. The 100 Billion Club has continued to expand, with the number of members increasing to 254, the number of trillion-level enterprises increasing to 16, and the operating revenue of the State Grid, petrochina and Sinopec exceeding 3 trillion yuan.