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Sinopec Group Ranked No.3 on 2014 Fortune Global 500 List
 
2014-07-15

 

Fortune magazine revealed its 2014 Fortune Global 500 list on 7th July, 2014. Sinopec Group has made to the top three for the first time and ranked after Wal-Mart and Royal Dutch Shell, one place higher than last year which marks the best results throughout the company's history.

This is the 16 consecutive year since 1999 that Sinopec Group has entered the global 500, during which it made No.7 in 2010, No.5 in 2011 and 2012, No.4 in 2013, and No.3 in 2014.

This entering signifies the further entrenchment of Chinese enterprises’ position of second corps on Global 500 list. The number of Chinese enterprises has reached a record of 100 on the list; U.S. 128, four less than last year; Japanese 57, five less than last year.

Fortune’s Global 500 is all along the world’s well-known list that measures all large enterprises throughout the world. It is published annually by the Fortune magazine. In 2014, total revenue of all listed companies has reached $ 31.0584 trillion, an increase of 2.5% compared to 2013's $ 30.3049 trillion. This year, top 500 finalists’ threshold increased $ 500 million over the previous year, reaching $ 23.7 billion.

Enterprise is the cell of a nation’s economy. The increase of listed enterprises indicates that China, as the world's second largest economy entity, is under rapid economic development as a practical result of the reform and opening up policy. Inspired by the enormous vitality brought out of such policy, China contributed 20 percent to the world’s economic growth rate and thus gradually become the significant engine in terms of world economic development. It is the solid foundation, and fine environment laid by reform and opening up that make "China Speed" attract worldwide attention, that make Chinese enterprises shine on the Global 500 list.

Moving up to the third place on Fortune Global 500 is a milestone with respect to the development of Sinopec Group. The Group has implemented six strategies of development for the purpose of becoming the best energy and chemical company globally, which includes further advancing quality and efficiency, further insisting on technological progress, further emphasizing low-carbon green philosophy, further underling people-oriented, and devoting itself to achieve best position and quality in addition to the largest scale.


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