3 Qingdao-based companies on Fortune's 500 list
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Three Qingdao-based companies have been included on the 2016 Fortune China 500 list issued by Fortune magazine recently. Haier Group, China's biggest maker of household appliances, Chinese home appliance producer Hisense and Tsingtao Brewery group respectively ranked 65th, 185th and 201th. Oil majors Sinopec and PetoChina retain their positions as the top Chinese companies, according to the Fortune China 500 list. Operating revenues of the 500 companies amounted to 30.77 trillion yuan in 2015, up 1.2 percent from the previous year. Net profits totaled 2.74 trillion yuan, an increase of 1.5 percent year on year, according to the magazine. The rates of growth in operating revenue and net profits slowed down, compared with 5 percent and 6 percent rises in 2014. The threshold for this year's ranking is 9.608 billion yuan in operating revenue. |
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