China’s Top 500 Companies Saw Profits Rise 23% in 2005 – Sinopec is # 1
China’s Big 500 are making money and a lot of it. Sinopec is showing them how it is done.
The top 500 companies in China made (that is profited) abt. $81.4 billion in 2005.
The best performers were:
1. petrochemicals
2. natural gas exploration
3. banking
4. ferrous metal companies
These four industries alone accounted for almost half of the profits.
The big performer, Sinopec had revenue of more than $1 billion, up 30% from the previous year.
Why am I not surprised that a stupid oil company is on top. That’s the way it is here in the US as well.
Sinopec cleared about a quarter of a million dollars.
China’s big electric company – State Power Grid – was number two.
China National Petroleum, Industrial & Commercial Bank of China and China Mobile were #3-5.
Imagine that, two of the top three performers in China are oil companies. I wonder why.
Some things are the same everywhere.
What do you think?
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