According to the 2017 Fortune Global 500 rankings unveiled on the evening of July 20 Beijing time, the Power Construction Corporation of China (POWERCHINA) came in at 190th with a revenue of $48,869 million, up 10 places when compared with the previous year. Making great strides in each ranking over five consecutive years, the company is marching towards the ranks of being one of the world’s most globalized companies.
Since its inception five years ago, POWERCHINA has not only secured a place on the ranking for five consecutive years, but also improved its ranking each year. POWERCHINA ranked 390th at the time of its inception in 2012. It ranked 354th in 2013, rose to 313th in 2014, to 253rd in 2015 and jumped to 200th in 2016.
Securing the 190th place this year is a strong reflection of the company’s strong growth and sustainable development.
In the face of China’s “new normal” economic development, POWERCHINA, as the world’s largest enterprise integrating power construction, survey, design, construction, and operations, conscientiously implements the decisions and deployments made by the Party Central Committee, the State Council, and the SASAC. It has strived to overcome the pressures of the economic downturn and a slew of problems and difficulties brought about by economic operation by actively implementing the goals and tasks of boosting quality and efficiency.
By virtue of strategic initiative for change, transformation and upgrading, it has achieved stable and sound progress in every aspect. In 2016, the group’s compound annual growth rate (CAGR) of operating income and gross profit reached 12.4 percent and 5 percent, respectively. The main economic indicators are a significant improvement over the previous year. The enterprise has stronger cohesive force and appeal, better reputation and visibility, and a new path in business development, ensuring its ranking in the Global 500.
With these achievements already under its belt, POWERCHINA is still pushing hard for progress. In today’s globalized economy, POWERCHINA, centering on the development outline of the 13th Five-year Plan, takes advantage of the Fortune Global 500 rankings to give full play to its advantages of having expertise in water and electricity, and capability in planning and design, construction, and investment and operations. The company is actively integrating into the Belt and Road Initiative and other national strategies, cementing coordination with world-class companies, and building a global marketing system, in a bid to integrate into global industrial cooperation and international competition at a higher level.
In addition, POWERCHINA ranked 17th on the ENR 2017 Top 225 International Design Firms，in the Chinese companies ranked no. 1.