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Distinguished Work and High-quality Development from a New Energy Enterprise with Earnings of over 100 Billion RMB GCL Group Ranks 139th in China’s Top 500 Enterprises

2018-10-24   

The 2018 China Top 500 Enterprises list was released in Xi’an on September 2. GCL Group moved up five spots from last year to 139 while maintaining its rank of 52 for China’s top 500 manufacturers. Among China’s top 500 companies with earnings of over 100 billion RMB, GCL Group is the only one that focuses on new and clean energy, driving the chain development of related industry, and is part of international and domestic enterprise clusters working on green energy development.

Based on established international practice, China’s Top 500 Enterprises list (published for 17 years by the Chinese Enterprise Confederation and the China Enterprise Directors Association) has always been viewed by all sectors of the society as the most authoritative list concerning Chinese enterprise development. Due to its outstanding index scores, GCL again made the top of the list among new energy enterprises. It is thus a role model for pushing new energy enterprises toward quality development with regard to industry upgrades, structural improvement, and enhanced innovative capacity.

As it is shown in the recently published 2018 China Top Enterprises Development Report, in terms of revenue scale, 2018 is the first year for the total revenue of China’s top 500 enterprises to exceed 700 trillion RMB, equivalent to 86% of China’s 2017 GDP. The total revenue of all 172 enterprises that each had earnings exceeding 100 billion RMB accounted for 76% of total revenue earned by all those on the Top 500 list, indicating their important and stability-generating role in China’s economy. As for the aspect of proprietorship, the number of privately operated enterprises on the list increased, almost matching the number of state-owned enterprises and are advantageous in terms of efficiency and effectiveness. As for the aspect of industry, with the intense structural reform from the supply side and the “deactivation” of the old economy, the sustainable development indexes for industries representing the new economy (new energy, new materials, energy conservation, environmental protection, and high-end equipment production) stood out more prominently on the list. With the momentum engendered by the new-generation information technology and information service industry, the new retail model, and the new energy industry, Huawei, Suning, and GCL have again proven that the strong only get stronger.

At the China Top 500 Enterprises Summit, China Enterprise Confederation Chairperson WANG Zhongyu proposed four major paths for enterprises in order to carry out high-quality development and become first-rate, world-class enterprises: boost innovative drive while pursuing independent control for core technologies; plan development while keeping a global perspective in mind and leveraging your position in the global value chain; continue structural improvement while striving to provide quality supply; and intensely promote enterprise reform so as to bring out the company’s potential to a greater extent.