SMM Network News:
On July 27, Fortune Chinese released the 2020 Fortune China 500 list, with 27 companies in the non-ferrous industry on the list. Among them, the top five non-ferrous enterprises on the list are Jiangxi Copper, Aluminum Corporation of China, Zijin Mining, Tongling Nonferrous, and China Hongqiao, ranking 43rd, 56th, 77th, 109th and 122nd respectively in the top 500 list.
According to Fortune, the total operating income of the 500 listed Chinese companies on the list this year reached 50.5 trillion yuan, up 11% from last year, while net profit reached 4.2 trillion yuan, up 16% from last year. The annual revenue threshold of the companies on the list this year is close to 17.8 billion yuan, up nearly 10% from last year. Last year, China's GDP exceeded 99 trillion yuan, which means that the combined revenue of the 500 listed companies on the list is still more than half of China's GDP that year.
From an industry point of view, with the gradual profits of some leading Internet service companies, the net profit generated by the industry on the list increased by more than 300% compared with the same period last year. 2019 is the first year of the "new infrastructure", but because its absolute share in fixed asset investment is relatively low, the "old infrastructure" still plays an indispensable role. In the Fortune China 500 list, the total income of infrastructure, construction, electric power, construction machinery, ports and logistics related to "old infrastructure" reached 8.6 trillion yuan, up 17.7 percent from 7.4 trillion yuan last year. The industry is still one of the important pillars of steady economic growth.
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