1. China Resources Group
China Resources Group is headquartered in Hong Kong and is one of the four largest Chinese-funded enterprises in Hong Kong. China Resources Group was reorganized from China Resources Corporation into China Resources (Group) Co., Ltd. in 1983. Since 2003, it has been under the supervision and management of the State-owned Assets Supervision and Administration Commission. Currently, China Resources Group has six listed companies: China Resources Power, China Resources Cement, China Resources Pharmaceuticals, China Resources Gas, China Resources Beer, and China Resources Land. As of the end of 2018, China Resources Group's total assets reached 1.4 trillion yuan.
In this year’s Fortune 500 list, China Resources Group ranked 80th with revenue of US$91.9 billion and net profit of US$3.474 billion. China Resources Group's revenue in 2018 was 608.5 billion yuan. In the first half of 2019, China Resources Group achieved revenue of 301 billion yuan, a year-on-year increase of 5%, and net profit reached 36.7 billion yuan, a year-on-year increase of 31%. In addition, China Resources Group owns many well-known brands, such as China Resources Vanguard Supermarket, Yibao Water, MixC, Snow Beer, etc.
2. Poly Group
The predecessor of China Poly Group is Poly Technology Co., Ltd. established in 1993. It is a large central enterprise group supervised by the State-owned Assets Supervision and Administration Commission. Poly Group's business mainly involves international trade, real estate development, cultural and artistic management, mineral resource development and other fields, with its business covering more than 100 countries and regions around the world. In July 2019, Poly Group and China Silk Group implemented a reorganization, and China Silk Group was incorporated into Poly Group.
In the 2019 Fortune 500 list, China Poly Group ranked 242nd with revenue of US$46.2 billion and net profit of US$1.495 billion. Poly Group's operating income exceeded 300 billion yuan in 2018.
The total profit exceeded 40 billion yuan. As of the end of 2018, the total assets of Poly Group exceeded one trillion yuan. In addition, the group has 11 secondary subsidiaries, 5 listed companies, and nearly 100,000 employees.
3. CITIC Group
CITIC Group was established in 1979. Its business mainly involves banking, securities, insurance, funds, trusts, real estate, engineering contracting, machinery manufacturing, energy industry and other fields. , whose main business is finance, belongs to a large financial central enterprise group. In 2011, CITIC Group was restructured into a wholly state-owned company.
In the 2019 Fortune Global 500 list, CITIC Group ranked 137th with revenue of US$70.6 billion and net profit of US$4.566 billion. As of the end of 2018, CITIC Group's total assets reached 6 trillion yuan. CITIC Group owns CITIC Bank, CITIC Securities, China Asset Management, Tianan Property & Casualty Insurance, CITIC Futures, CITIC Assets, Goldstone Investment, Guoan Construction, CITIC Construction and many other subsidiaries. The company has 175 first-level subsidiaries, covering almost all industry fields.
4. China Merchants Group
China Merchants Group was founded in 1872 and is headquartered in Hong Kong. It is also one of the four largest Chinese-funded enterprises in Hong Kong. China Merchants Group achieved revenue of 649.9 billion yuan in 2018, a year-on-year increase of 11%, total profits reached 145 billion yuan, and net profit was 107.3 billion yuan, a year-on-year increase of 10%. As of the end of 2018, the total assets of China Merchants Group reached 8 trillion yuan.
Historical evolution
In the mid-1990s, state-owned enterprises were operating in dismal conditions, and more than two-thirds of them were in the red. The reform of state-owned enterprises was "the hardest nut to crack" for the government at that time. Beginning in 1997, in order to achieve three-year relief for state-owned enterprises, the state not only required reforms in the field of state-owned enterprises themselves, but also introduced a number of supporting measures to strip away the burden on state-owned enterprises.
In order to save state-owned enterprises, including state capital injection, financing from international and domestic capital markets, debt-for-equity swaps, central reserves, and subsidized loans, the country spent more than 2 trillion yuan - which was simply a huge amount at the time. An astronomical figure. In 1999, the Fourth Plenary Session of the 15th Central Committee of the Communist Party of China proposed to deepen the reform of state-owned enterprises. The separation of government and enterprise has always been the core issue of the reform of state-owned enterprises, and this problem has never been fundamentally solved.
In 2006, central enterprises achieved profits of more than 1 trillion yuan. Among them, 19 central enterprises had profits of more than 10 billion yuan. Another 19 enterprises entered the top 500 announced by Fortune magazine, which was more than that in 2003. 10 more companies were added. By 2008, central enterprises accounted for 80% of the profits created by state-owned enterprises.
As early as 2003, when the State-owned Assets Supervision and Administration Commission of the State Council was established, the number of state-owned enterprises managed by the State-owned Assets Supervision and Administration Commission of the State Council was 196. After reorganization, as of March 2015, the number of state-owned enterprises directly managed by the State-owned Assets Supervision and Administration Commission of the State Council was 112. Including the financial central enterprises directly managed by the China Insurance Regulatory Commission, the China Banking Regulatory Commission, and the China Securities Regulatory Commission, there are 124 central enterprises in total. As of December 12, 2015, there were 106 central enterprises in the list of central enterprises released by the State Council.
The improved performance of central enterprises is mainly attributed to the substantial improvement in management level. From 1998 to 2008, central enterprises underwent substantial internal reforms and introduced high-level talents from home and abroad, significantly improving their management level. In 2008, the management level of some central enterprises had reached or even exceeded that of foreign Fortune 500 companies.
The latest data released by the State-owned Assets Supervision and Administration Commission of the State Council on the Trust Network show that as of the end of 2010, the total assets of 120 central enterprises were 24427.46 billion yuan, an increase of 16% over the previous year; the total operating income was 16776.94 billion yuan, an increase of 16% over the previous year. The annual growth rate is 32.9%. Achieved net profit of 852.27 billion yuan, an increase of 42.8% over the previous year. Among the Fortune 500 companies announced in 2011, there were 38 central enterprises, 8 more than the previous year.