Beijing
time on 9th July 2012, United States Fortuneglobal officially released
the 2012 Global Fortune 500 Companies list. Xinxing Cathay Group and
Weiqiao Pioneering Group entered Global Fortune 500 Companies.
In
2011, Xinxing Cathay Group topped the ranking of Global Fortune 500
Companies, ranked No. 484 by operating income of CNY 147.6 billion
(equivalent to USD 22.832 billion). Xinxing Cathay Group is the
country’s largest military supplier, as well as the leading production
base for occupational clothing and footwear.
Shandong
Weiqiao Pioneering Group Company Ltd. has become a super-large
enterprise that focuses on providing goods and integrated service of
cotton industry, spinning and weaving, dyeing and finishing, garment,
home textile, heat electricity and aluminum industry.
With its
first-class equipments, productive capacity and economic benefit,
Weiqiao Pioneering Group ranked No.1 in textile industry of China in
fourteen consecutive years. In 2011, Shandong Weiqiao Pioneering Group’s
sales revenue was USD 24.9055 billion . Its profit was USD 1.1276
billion. The group topped the ranking of Global Fortune 500 Companies,
ranked No. 440.
Fortune
of the world top 500 ranking is based on enterprise revenues as the
main basis for evaluation, evaluation system covers the business revenue
and net profit, total assets, shareholder rights, such as the total
amount of total employees, it is to measure the world’s large company
scale, efficiency and the strength of the most famous, the most
authoritative’s list. This year, the fortune on the threshold of the
world top 500 for about $22 billion, about $19.5 billion more than the
previous year raised $2.5 billion.
Source: http://english.ctei.gov.cn/innews/domestic/201208/t20120803_1366400.html
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