The “Top 500 Enterprises in China for 2004” was revealed in Chongqing on September 5. COFCO, with 110 billion in turnover, ranked 14th. The top 13, in order of ranking, were: State Electric Grid Co., China Petroleum and Natural Gas Co., Sinopec, Industrial and Commercial Bank of China, China Mobile, China Life, China Telecom, Sinochem, China Construction Bank, Bank of China, China Southern Electric Grid Corporation, Shanghai Baoshan Iron and Steel Group and China No. 1 Automobile Group.

　　It is worth noting that the entry level for the list is rising at an average annual growth rate of 500 million yuan. The 2004 list included 101 enterprises that were not on the list for 2003. A survey of the list shows that Chinese state-owned enterprises are becoming more of a presence internationally, with 18 of the Chinese 500 also qualifying for the Fortune 500, 6 more than in 2003. All of these are either state-owned enterprises or enterprises whose controlling stockholder is the state.

　　The China Industry Association and the China Association of Entrepreneurs began compiling the Chinese top 500 in 2002, taking their cue from the international ranking. It is the only comprehensive enterprise ranking in the country compiled by mass organizations.