Hon Hai and Quanta's Affiliates Are Top-10 Enterprises in China

Reinvested companies of the Taiwan-based Hon Hai Group and Quanta Computer Inc. in China have squeezed into the country's top-10 enterprise list for 2012 based on international trade value in 2011.

China's biggest-500 enterprise rankings for 2012 issued by the Statistical Society for Foreign Economic Relations and Trade of China (SSFERTC), a local market intelligence agent, indicates that of the top 10s, over a half are state-owned, including China Petrochemical Corporation, which remains atop the list by international trade value of US$111.919 billion, China National Petroleum Corporation at No.2 with US$61.976 billion and Sinochem Corporation fifth with US$22.392 billion.

Also among the top-10 is Hon Hai Group's reinvested companies Futaihua Precision Electronics Co., Ltd. and Hong Fu Jin Precision Industry (Shenzhen) Co., Ltd., which rank No.3 and No. 7, respectively, with foreign trade of US$46.926 billion and US$14.832 billion. Meanwhile, Quanta's Tech-Front Computer (Shanghai) Co., Ltd. also advanced to fourth with trade value of US$40.159 billion, reflective of Taiwanese enterprises' steadily increasing contribution to China's industrial development and economic growth.

Noteworthy is that SSFERTC's report shows that international trade by China's biggest 500 enterprises in 2011 surged 20.84% to US$1.36 trillion compared to 2010 and contributed about 40% to overall national exports in the same year.

Mainly buoyed by simmering demand at home and abroad, the top-500 witnessed total imports and exports rise significantly 30.1% and 20.5%, respectively, last year. But market observers say that such banner growths are less likely to remain this year for a variety of reasons.

Some 92.85% of the top-500 enterprises have headquarters in the eastern region, 3.77% in the central and 3.38% in the western to reflect imbalanced regional development, according to the report.

source & copyright: CENS