Revenue up at city's top 100 firms

Shanghai's top 100 companies posted total revenue exceeding 6.9 trillion yuan (US$980 billion) in 2018, up 810.3 billion yuan, or 13.3 percent year on year.

A list of the top 100 companies was released by the Shanghai Enterprise Confederation, Shanghai Federation of Economic Organization and Jiefang Daily.

In general, the companies have seen the scale of operation and economic benefits both increase.

The 100th company to make the cut registered an annual revenue of over 5.96 billion yuan, lifting the threshold by 1 billion yuan from 4.99 billion yuan in the previous year.

Among them, 21 enterprises had revenue of over 100 billion yuan, the largest number of companies with revenues exceeding 100 billion yuan since the launch of the list.

Meanwhile, 50 enterprises posted revenue between 10 billion and 100 billion yuan, while 29 enterprises had over 6 billion and less than 10 billion yuan.

Shanghai Automotive Industry Corporation (Group) Corp, China Baowu Steel Group Corp, and Bank of Communications were the top three companies. 

Net profits of the 100 companies added up to 443.3 billion yuan last year, an increase of 11.4 percent from 2017.

In spite of the higher revenues and profits, the total tax paid by the top 100 companies last year totaled 482.7 billion yuan, only 8.8 billion yuan, or 1.86 percent, higher than the previous year, due to the tax reduction policies of recent years.