CHINA’S top 50 listed companies were unveiled recently, with SinoPec, China Unicom and Bao Steel taking the first three spots.
By the end of 2002, the total assets of the 50 companies was 2.15tril yuan (almost RM1tri), accounting for half of the total of 1,198 companies listed on the Shanghai and Shenzhen stock exchanges.
It is the fifth appraisal of its kind, launched by Listed Companies, a magazine jointly set up by the People’s Daily and Shanghai Stock Exchange.
Companies are appraised from four aspects – total assets, income from main businesses, net profit and market value.
The result shows that the total assets of the top 50 companies increased by 60% over the previous year, while the net profit increased by 20%, higher than the average level of listed companies.
Experts say the result shows blue-chip stocks have begun to play an important role in China’s capital market. In 2002, blue-chip stocks, instead of special treatment stocks, became a hot item on China’s two bourses. – People’s Daily
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