August, 31, the ranking of Top 500 Chinese Enterprises was unveiled at the Forum for Large Chinese Enterprises organized by China Enterprise Confederation and Chinese Enterprise Directors Association. The forum released the lists of 2013 Top 500 Chinese Manufacturing Enterprise, Top 500 Enterprises in the Service Sector, as well as 2013 Top 100 Multinational Enterprises and Multinational Index. China’s oil giant Sinopec Group topped the list for a ninth year. With its strength in operating income, total profit and total asset, Tongwei ranks 253 on Top 500 Chinese Enterprises, and 125 on Top 500 Chinese Manufacturing Enterprises. Tongwei Group maintains its development momentum and strives to strengthen its core competitiveness through input in enhancing R&D strength, product quality, brand culture, and modern management.

The list was complied based on the 2012 revenues of Chinese companies. Sinopec Group took the lead for a ninth year with total revenues of 2.83 trillion yuan ($458.6billion) in 2012. A total of 123 companies, including 16 private enterprises, reported revenues of more than 100billion yuan last year, up from 107 companies a year earlier. The top 500 companies had a combined revenue of 50.02 trillion yuan in 2012, up 11.41 percent from a year earlier. However, the growth rate was 12.22 percent lower than that of the previous year. Total profits of the 500 companies edged up 3.58 percent from the previous year to 2.17 trillion last year, while the profit-revenue ratio dropped for the second year by 0.33 percentages to 4.34 percent. Among the 500 companies, 216 saw declines in net profits in 2012, while 43 others suffered losses, up from 13 companies in the previous year.