Fortune magazine revealed its 2014 Fortune Global 500 list on 7th July, 2014.
Sinopec Group has made to the top three for the first time and ranked after
Wal-Mart and Royal Dutch Shell, one place higher than last year which marks the
best results throughout the company's history.
This is the 16
consecutive year since 1999 that Sinopec Group has entered the global 500,
during which it made No.7 in 2010, No.5 in 2011 and 2012, No.4 in 2013, and No.3
This entering signifies the further entrenchment of Chinese
enterprises’ position of second corps on Global 500 list. The number of Chinese
enterprises has reached a record of 100 on the list; U.S. 128, four less than
last year; Japanese 57, five less than last year.
Fortune’s Global 500
is all along the world’s well-known list that measures all large enterprises
throughout the world. It is published annually by the Fortune magazine. In 2014,
total revenue of all listed companies has reached $ 31.0584 trillion, an
increase of 2.5% compared to 2013's $ 30.3049 trillion. This year, top 500
finalists’ threshold increased $ 500 million over the previous year, reaching $
Enterprise is the cell of a nation’s economy. The increase
of listed enterprises indicates that China, as the world's second largest
economy entity, is under rapid economic development as a practical result of the
reform and opening up policy. Inspired by the enormous vitality brought out of
such policy, China contributed 20 percent to the world’s economic growth rate
and thus gradually become the significant engine in terms of world economic
development. It is the solid foundation, and fine environment laid by reform and
opening up that make "China Speed" attract worldwide attention, that make
Chinese enterprises shine on the Global 500 list.
Moving up to the third
place on Fortune Global 500 is a milestone with respect to the development of
Sinopec Group. The Group has implemented six strategies of development for the
purpose of becoming the best energy and chemical company globally, which
includes further advancing quality and efficiency, further insisting on
technological progress, further emphasizing low-carbon green philosophy, further
underling people-oriented, and devoting itself to achieve best position and
quality in addition to the largest scale.