In the evening of 20thJuly, FORTUNE Magazine released the 2017 Fortune Global 500. State Grid ranked second with a revenue of $315.1986 billion.
In recent years, State Grid has been actively promoting the development of strong and smart grids to support economic growth and energy transition in China. Its technological innovations are leadingthe global grid technology development.A series of world-leading innovative results with independent intellectual property rights have been made in UHV transmission, smart grid and mega grid control. The company also actively expands the global market through participating in the “Belt and Road” Initiative with significant achievements in overseas energy infrastructure investment and operation, grid connectivity, international project engineering and equipment and technology export, and international standards. What’s more, State Grid has also been committed to fulfilling its social responsibilities to create economic, social and environmental value towards a better and stronger State Grid with improved comprehensive strength, innovation capacity and brand influence. While promoting the Two Transformations (transform the way the company develops and transform the way the grid develops), the company pushes forward GEI and builds itself into a modern company with “A Strong Grid, Excellent Assets, Services and Performance”.These efforts helped State Grid to stay on second on the Fortune Global 500.
This year, the number of Chinese enterprises on the list grew from 110 in 2016 to 115. The number has kept growing for 14 years. Among the 115 Chinese enterprises, 109 are enterprises in Chinese Mainland (including Hong Kong). Ten of them are new comers onto the list (Anbang Insurance Group, Hengli Group, Yango Financial Holding, Alibaba Group Holding, Country Garden Holdings, Tencent Holdings, Suning Commerce Group, Xiamen C&D, Xiamen ITG Holding Group and Xinjiang Guanghui Industry Investment). Sinopec Group and CNPC ranked third and fourth following State Grid with a revenue of $267.518 billion and $262.5726 billion respectively.
Fortune Global 500 is regarded as the most well-known and authoritative list to evaluate global giant businesses. It is released by FORTUNE Magazine on an annual basis.This year’s Fortune Global 500 companies generated $27.7 trillion in revenues and $1.52 trillion in profits in 2016. The entry threshold of Fortune Global 500 is $21.6 billion.