The Shanghai Enterprise Federation’s Top 100 Report was released, and SAIC Motors, China Baowu Steel Group and Bank of Communications were ranked as the top 3 companies in Shanghai. The report also found that private enterprises did well, with revenue and net profit growth almost doubling the average earnings of the top 100.
The top three private enterprises were listed as Shanghai Vanke, Fosun International and Shanghai Steel Union. Overall, the companies listed generated revenue of 6.9 trillion Yuan in 2018, an increase of more than 13% from the previous year, with 21 enterprises reporting revenues of more than 100 billion Yuan each, the most in the history of the rankings. One area showing fast growth this year was the Express Delivery Industry, which together employs approximately 180,000 people, while banking, auto and tobacco industries showed slower growth.
Source: Shanghai Live, ICS