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WUHAN: The China Enterprise Confederation (CEC) has released its latest list of the country's top 500 companies.State-owned China Petrochemical Corporation, also called Sinopec, was the largest company by revenue, with 1.06 trillion yuan (9.5 billion) in 2006. It was the only company to top 1 trillion yuan.Foreign trade dealer Zhucheng Waimao Co Ltd ranked 500. The Shandong province-based company recorded 7.216 billion yuan.Companies in the list witnessed a 23.7 percent increase in revenue and 25.9 percent hike in profits from the previous year, largely because of continued growth from mergers and acquisitions.However, the money-earning performance of the 500 still falls far behind that of the world's top 500 as compiled by Forbes.China's top performers recorded a modest 4.72 percent on profit margin, lower than the average 7.32 percent of the world's top 500, the CEC report said.The return on equity of the top 500 was 10.1 percent, much lower than the 16.1 percent of the world's top 500."The top 500 China is still mainly ranked in size instead of performance," Li Wei, deputy director of the State-owned Assets Supervision and Administration Commission of the State Council said."That is a gap between China and developed countries."A total of 22 Chinese companies were among the world's top 500 in 2007. Sinopec, the largest company in China, ranked 17th."China's top firms have still focused their business on traditional industries, mainly manufacturing," Yang Du, professor at Renmin University of China, said.As many as 280 companies, accounting for 56 percent of the top 500 are from manufacturing industries, and less than 30 percent are from service-related industries.China's top 500 have been continually expanding, with 131 of them, merging and acquiring some 408 other businesses last year."But these merger and acquisition (M&A) activities are mainly limited within the same industries and few of the M&A deals are cross-industries," Yang said.Among the top 500, 96 are headquartered in Beijing and 40 are from East China's Jiangsu Province.
BEIJING - China said Monday it will use global positioning satellites to ensure food safety at the Beijing Olympics as it steps up efforts to blacklist manufacturers who violate safety regulations. Wang Wei, an executive vice president of the Beijing Olympic Committee, said the high-tech system will monitor food production, processing factories and food hygiene during the games to make sure healthy food is delivered to the 10,500 athletes residing in the Olympic Village. Food products will be affixed with an "Olympic food safety logistics code" and transportation vehicles will be tracked using global positioning satellites, Wang said. He did not provide further details of either plan. "The whole process will be monitored from the start of production through transportation to the end users," Wang said. "We are very confident about ensuring food safety in Beijing." Wang said extra measures would also be taken to ensure food safety for the general public. "During the games some special monitoring mechanisms will also be applied to monitor restaurants and public food sellers to let people know how they can buy safe food," he said. In a separate announcement, Beijing-based Qianxihe Food Group, an Olympic sponsor, said it had begun selling a hormone-free line of pork for the games, a company official said. The company's pigs have been fed food without hormones and are part of the "Olympics Special Supply Pork" range, which will be consumed by athletes and can be bought in supermarkets by ordinary citizens, said the official, who would give only her surname Tong. Wang's comments came after Vice Commerce Minister Gao Hucheng announced that 429 exporters have been blacklisted and punished for producing dangerously substandard products

Yahoo co-founder Jerry Yang said on Wednesday that China is fertile ground for an online advertising exchange akin to the one the US Internet titan is buying. The comment was among insights Yang shared with more than 1,000 Chinese and US technology entrepreneurs gathered in the California city of Santa Clara to discuss opportunities and challenges presented by the meteoric growth of China's economy. US Internet giant Yahoo co-founder Jerry Yang during a presentation in a Tokyo hotel, March 2006. Yang said on Wednesday that China is fertile ground for an online advertising exchange akin to the one the US Internet titan is buying.[AFP] "I'm going to call Jack Ma up with this idea of an exchange for advertisers and ad buyers," Yang said, referring to the chairman of Chinese Internet company Alibaba.com. "The potential is huge." In August 2005, Yahoo invested one billion dollars for a 40 percent stake in Alibaba, which also agreed to run the Chinese operations of the US Internet giant. Yang said that as it neared its second anniversary, the Yahoo-Alibaba partnership has "some catching up to do" in the online search and portal business in China but that he expected a turnaround in a few years. "On the whole, we feel our move to partner with Alibaba so far looks like it's the right strategy," Yang said. "It is too early to tell whether we are successful or not." "The best strategy still seems to be Chinese and US companies sharing best practices ¡ª we all benefit." Yahoo is buying New York City-based online advertising exchange Right Media in a move to counter Google's move to acquire the DoubleClick Internet ad-targeting firm. The California online search titan, which owns 20 percent of Right Media, said it will acquire the remaining 80 percent of the company for 680 million dollars (500 million euros) in stock and cash. The ad exchange serves as a place where advertisers can easily "hook-up" with websites or online services that cater to desired customer demographics. While announcing on April 13 that it was buying New York-based DoubleClick for 3.1 billion dollars, Google revealed plans for the Internet ad tracking and targeting firm to create an open exchange similar to Right Media.
The highly anticipated Beijing-Shanghai high-speed railway will begin construction next month, a Ministry of Railways official said.The ministry source, who did not want to be named, confirmed in a phone interview yesterday that preparations are now being made for a ceremony to commence construction of the system.Based on that timeframe, the railway will be completed by 2013. Trains running on the 1,318 km railway will then be able to travel at speeds of up to 350 kph and will cut travel time between the two cities from the current 10 hours to less than five.The project involves one of the largest amounts of investment on railways. Industry sources say it will cost more than 200 billion yuan ( billion), more than the 180 billion yuan needed for the Three Gorges Project.Officials say the project will also employ a set of locally developed high-speed railway technology for the first time.The country is said to have already mastered the technologies needed to lay high-speed rail tracks and trains.The first homegrown train able to reach 300 kph rolled off the production line over the weekend, marking China's entry into "an elite club that includes Japan, France and Germany to become the fourth country capable of making such trains", Wang Yongping, Ministry of Railways spokesman said.Officials added that the railway still relies on foreign companies, such as the Germany-based Siemens, to build its signal network and other systems.China has been upgrading the scale and speed of its railway network in the past decade, and the 11th Five Year Plan period (2006-10) is regarded as a critical period for building high-speed railways that can travel at speeds of 200 kph as part of an extensive transport network.At least eight express passenger railways were being constructed as of last year.Xinhua contributed to the story
来源:资阳报