Shang Hai Zheng Quan Bao·2025-09-15 10:17Core Insights - The China Enterprise 500 list for 2025 has been released, with State Grid Corporation, China National Petroleum Corporation, and China Petroleum & Chemical Corporation ranking as the top three companies [1] - The number of enterprises with revenue exceeding 100 billion yuan has increased to 267, representing 53.4% of the total [1] - The total revenue of the top 500 enterprises reached 11.015 trillion yuan in 2024, showing a growth trend compared to the previous year [1] - The average R&D intensity of the listed companies has reached a new high of 1.95%, marking an increase for eight consecutive years [1] - The balance between state-owned and private enterprises remains stable, with 251 state-owned and 249 private enterprises making the list [1] Revenue Rankings - The top three companies by revenue are: - State Grid Corporation: 394.59 billion yuan [2] - China National Petroleum Corporation: 296.90 billion yuan [2] - China Petroleum & Chemical Corporation: 293.20 billion yuan [2] - Other notable companies in the top 10 include China Construction Corporation, Industrial and Commercial Bank of China, and Agricultural Bank of China, with revenues ranging from 162.91 billion to 218.71 billion yuan [2][3] R&D and Growth Trends - The average R&D intensity of the top 500 companies has increased to 1.95%, indicating a growing focus on innovation and development [1] - The overall revenue growth of the top 500 companies reflects a positive trend in the Chinese economy, with a total revenue of 11.015 trillion yuan for 2024 [1] Company Composition - The composition of the top 500 enterprises shows a near-equal representation of state-owned and private enterprises, with 251 state-owned and 249 private enterprises [1]