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CEFC China Moves to 222nd on Fortune Global 500 List

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On the evening of 20 July, 2017, the latest Fortune Global 500 List was released by the Fortune Magazine. CEFC China Energy Company Limited, the only one Shanghai-based private enterprise on the list, ranks the 222nd this time with the revenue of 43.7 billion US dollars, up by 7 spots from last year. This marks the fourth consecutive time for the company to be recognized as a Fortune 500 company. 

 

The last 14 years have seen a continuous increase of Chinese corporations hitting the list with the number reaching 115 in 2017. 10 enterprises from China make their debut on the list this year including Anbang Insurance Group, Hengli Group, Yango Financial Holding Investment Group, Alibaba Group, Country Garden, and Tencent. Besides CEFC China, there are also some state-owned enterprises from Shanghai on the list such as SAIC Motor, Bank of Communications, China Baowu Steel Group, Shanghai Pudong Development Bank, and Greenland Group.      


Subject to the sluggish global economy, companies on the Fortune Global 500 List 2017 face a smaller increase of revenue on average compared with that of last year. Particularly, companies in crude oil and energy sector are not able to create substantial increase in their main businesses. Despite the economic downturn, CEFC China steadily moves up on the list thanks to its strategic transformation and overseas layout. In recent years, CEFC China has been going with the general trend of “going global” under the leadership of Board Chairman Ye Jianming. By fully utilizing its advantages in strategic resources, mechanisms and brand, the company has been promoting the integration of global resources and technologies as a positive response to the Belt and Road Initiative. It has developed a diversified financial platform connecting China and the rest of the world to fully engage in international investment banking. Gradually, it has formed a full industrial chain in the energy sector and a layout of international investment banking with the aim to promote the market connectivity and interaction between China and other countries.


Following and promoting the Belt and Road Initiative over the past years, CEFC China has become a leading investor in Central and Eastern Europe (CEE). During the China Investment Forum 2017, CEFC China as the Chief Partner, has been exchanging views with both the political and business representatives from the Czech Republic and other CEE countries in redoubling the efforts to promote the airline industry, the building of a railway logistics hub as well as the financial investment in Czech and CEE as a whole. The talk and discussion also shed light on how to advance the “16 + 1” Cooperative Model in finance, banking, industry, energy, new science and technologies, e-commerce, airlines and tourism, traditional Chinese medicine and sports, etc.


Fortune Global 500 List, released by the Fortune Magazine on a yearly basis, has been the most famous and authoritative tool to measure the strength of large-scale corporations on a global scale. This year, the 61st Fortune Global 500 List has been made and published. According to the statistics, the bar to appear on the list of 2017 has been further raised by 3%, requiring a total of 21.6 billion US dollars revenue. The total revenue of all the companies on the list has climbed to 27.7 trillion US dollars.


 
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