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Net profits at the nation's highest-performing firms totalled 171 billion dollars in 2008, compared to 99 billion dollars for the
The business group has compiled a list of
The Chinese firms saw their profits fall by 13.2 percent in 2008 compared to the previous year, according to the survey posted on the CEC's website -- still a better performance than the Fortune 500's 85 percent drop in profits.
The company that topped the list was state-owned giant Sinopec, the largest oil refiner in
The Industrial and Commercial Bank of
CEC vice-president Wang Jiming said the performance of China's top 500 in 2008 showed the financial crisis had less of an impact on the Asian nation's firms than on their US and global counterparts.
But he added it did not signal any substantial improvement in overall competitiveness.
"Chinese enterprises enjoy a good policy and domestic market environment," he was quoted as saying on the website.
"But compared to big global companies, they... still lag behind in resource allocation, innovation, international presence, business models and corporate culture."
