Beijing: Combined operating revenue at China's 500 largest enterprises rose 6.3 per cent last year, with the three top contributors coming from the energy industry, the People's Daily said, citing an industrial rankings report.
Operating revenue rose to 27.6 trillion yuan (Dh14.8 trillion). Combined profits grew 25 per cent to 1.5 trillion yuan last year, while combined assets increased 22 per cent to 91.3 trillion yuan, the state-owned official newspaper said, citing a report by the China Enterprise Confederation and China Enterprise Directors Association.
"China continues as a fast-growing market and it makes sense that the energy and power generation industry still absorbs a big portion of activity," said David Cohen, an economist at Action Economics in Singapore, who has worked for the US Federal Reserve.
"Climbing to other higher value-added activities will be a longer-term process."
China's economy expanded 9.1 per cent last year and may grow 9.5 per cent this year, according to the World Bank. China Petroleum & Chemical Corp, known as Sinopec, ranked first in terms of operating revenue, with 1.39 trillion yuan.
That was followed by China State Grid Corp, the nation's largest power-network operator, with 1.26 trillion yuan.
