China's top 500 enterprises see steady growth

BEIJING - China's top 500 enterprises posted steady performance last year with rising revenue and a greater focus on innovation, an industrial ranking report showed Wednesday.

The 2024 list of the top 500 Chinese enterprises was published by the China Enterprise Confederation and the China Enterprise Directors Association.

The 500 largest companies generated combined revenues of 110.07 trillion yuan ($15.46 trillion) in 2023, up 1.58 percent year-on-year.

The revenue threshold for entry on this year's list is 47.38 billion yuan, an increase of 383 million yuan over the previous year.

The average research and development (R&D) intensity of these enterprises has increased for the seventh consecutive year. Their total R&D spending accounted for 1.9 percent of the combined revenue, the highest level since 2002.