In this piece, we’ll take a look at the 5 Biggest Chinese State-owned Companies. For more such companies, go to 15 Biggest Chinese State-owned Companies.
5. Industrial and Commercial Bank of China (SHA:601398)
Annual Revenue 2021: $209.0 billion
The Chinese government owns 34.71% of the Industrial and Commercial Bank of China (SHA:601398) through its Central Huijin Investments investment arm. According to the World Economic Forum, the bank has around 5 million corporate and 443 million individual customers and a robust distribution network consisting of 17,000 domestic and 399 international branches.
4. China State Construction Engineering
Annual Revenue 2021: $293.7 billion
China State Construction Engineering is wholly owned by the SASAC, with its subsidiary, the China State Construction Engineering Corporation Limited, listed on the Shanghai Stock Exchange.
It has business interests in over 100 countries and regions, focusing on investment and development in real estate, construction engineering, survey and design, and new ventures. According to the company, one in every 25 Chinese individuals lives in a house built by China State Construction. The company has also constructed Skyscrapers, airports, nuclear power stations, and even satellite launch bases in China.
3. Sinopec Group
Annual Revenue 2021: $401.3 billion
Wholly owned by the SASAC, Sinopec Group is one of China’s largest integrated energy and chemical corporations. For the past 24 years, Sinopec Group has been a Fortune Global 500 company. The company’s primary businesses include petroleum and natural gas exploration and production, transportation, and marketing. It is also involved in the value chain of chemical goods such as refinery products, petrochemical products, coal chemical products, and synthetic fiber.
2. China National Petroleum Corporation
Annual Revenue 2021: $411.6 billion
China National Petroleum Corporation is wholly owned by the SASAC, and it is an integrated global energy business with businesses ranging from oil and gas exploration and production to providing oilfield services, petroleum engineering, and new energy development. As per its website, it has business interests in more than 30 countries.
CNPC also owns more than 80% shareholding in PetroChina, its publicly traded subsidiary. PetroChina is China’s largest oil and gas producer and distributor, accounting for roughly 50% and 60% of domestic oil and gas production output, respectively.
1. State Grid Corporation of China
Annual Revenue 2021: $460.6 billion
Established in 2002, SGCC is wholly owned by the China’s central state-owned Assets Supervision and Administration Commission (SASAC). It constructs and operates power grids as its core business, providing power to 1.1 billion people in 26 provinces, autonomous regions, and municipalities, covering 88% of Chinese territory. Its mission is to provide safer, cleaner and more economical, and sustainable power.
In addition, the company has invested in and operated backbone energy networks in nine different nations and regions, including Brazil, the Philippines, Portugal, Australia, Italy, Greece, Oman, Chile, and Hong Kong.
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