54 Chinese enterprises make Fortune 500 list

16:30, March 09, 2011      

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Fifty-four Chinese enterprises, including Hong Kong and Taiwan companies, were listed among the Fortune 500 companies in 2010, an increase of nearly 11 times compared with 1995, Du Ying, deputy director of the National Development and Reform Commission, said during the 15th Sino-Japanese Seminar on Civil and Commercial Law on Mar. 8.

However, there is still a big gap between Chinese companies and their foreign competitors. Du said that the number of Chinese Fortune 500 companies is less than half of the United States and is only equal to three-quarters of Japanese Fortune 500 companies. And only less than 30 percent of the total 123 Chinese state-owned enterprises have established standard board of directors.

From 1992 to 2010, China's economy increased nearly 15 times from nearly 2.7 trillion yuan to nearly 39.8 trillion yuan.

"However, we should also take note that although China has a large number of companies and some are very big, they have to grow stronger and improve their corporate governance," Du said.

By Li Jia, People’s Daily Online
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