China's top 500 enterprises see rapid profit growth in 2021

BEIJING, Sept. 6 (Xinhua) -- China's top 500 enterprises reported rapid growth in revenue and profit in 2021, an industrial ranking report showed Tuesday.

The 2022 list of the top 500 Chinese enterprises was published by the China Enterprise Confederation and the China Enterprise Directors Association.

The largest 500 companies have generated combined revenues of 102.48 trillion yuan (14.83 trillion U.S. dollars) in 2021, a rise of 14.08 percent from last year and exceeding the 100 trillion yuan mark for the first time.

Net profits of those companies totaled 4.46 trillion yuan last year, up 9.63 percent from one year earlier. The growth accelerated from a rise of 4.59 percent registered in 2020.

The State Grid Corporation of China ranked first on the list, with operating revenue of 2.97 trillion yuan in 2021, followed by the China National Petroleum Corporation and the China Petrochemical Corporation.

Research and development (R&D) has been high on the enterprises' agenda. Their R&D input amounted to 1.45 trillion yuan, while the R&D intensity ratio reached 1.81 percent, up 0.04 percentage points from a year earlier.