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POWERCHINA climbing Fortune Global 500

Updated: 2017-08-23

According to this year's Fortune Global 500 ranking list, POWERCHINA came 190th with revenue of $48.87 billion, moving up 10 places from last year.

It marks the fifth consecutive year of a rise in ranking since its establishment and is a major step for POWERCHINA to develop itself into a large global company.

POWERCHINA debuted on the list with a ranking of 390 when it was set up in 2012 and ranked 354th place in 2013. In 2014, it moved up 41 places to the 313th spot and rose to 253th on the list in 2015.

The rise in rank can be attributed to the efforts made by POWERCHINA in spite of the complicated economic situation, fierce competition and arduous tasks of reform and development in 2016.

Since established, it has implemented all the decisions and deployments made by the central government and took reformative measures to improve the quality and efficiency of its development.

It has achieved steady progress in total revenue, which saw a year-on-year growth of 12.4 percent while total profit achieved an increase of 5 percent in 2016. The main economic indicators were improved and the cohesion and reputation of the corporation were further enhanced, demonstrating that POWERCHINA has got off to a good start during the period of 13th Five–Year Plan (2016–20).

POWERCHINA also released its own development plan for the 13th Five–Year Plan period and will continue to deepen reforms and improve its management. It will take the opportunities of the country's supply–side structural reform and the county's Belt and Road Initiative to develop itself into a top class enterprise with international competitiveness in the world.

As a provider of a comprehensive and full–range of services and solutions for engineering, finance & investment, construction, equipment manufacturing, and operations management, POWERCHINA is known as a leading company in serving the national Belt and Road Initiative.

In additional to a global pioneer in the construction works relating to clean low-carbon energy, water resources and environment, it is also an investor and a developer who provides the whole industry chain integration and total solution of engineering construction to customers at home and abroad. It boasts the best ability and performance in electric power project planning, design, and construction in the world.

Official statistics show that a total of 115 Chinese companies appear on this year's prestigious Fortune Global 500 list, which marks the 14th consecutive year in which the number of Chinese companies has risen. Among the 115 entrants, 109 are from the Chinese mainland and Hong Kong.

Compared with 2015, the total revenue, profit and the threshold finalists of Fortune Global 500 listed companies have decreased around 11 percent respectively in 2016. In this year, these three indexes have seen a slight upward turn. For instance, total revenue grew to $27.7 trillion; total profit rose by 3 percent to $1.52 trillion; and the threshold increased by 3 percent to $21.6 billion.

The Fortune Global 500 published annually by Fortune magazine, known as an "ultimate list", is considered the most famous and authoritative list for the measurement of large corporations worldwide by revenue.

POWERCHINA climbing Fortune Global 500
POWERCHINA ranks No 190 among Fortune 500 companies.