Fortune China released its latest top 500 list on July 27, 2020. The list is an annual ranking regarding business performance and achievements of the top 500 Chinese companies listed on both domestic and overseas markets. China Railway Group Limited (CREC) ranks 6th on the list, a jump from the 7th in 2019.
Last year, CREC has been pursuing market-oriented development and relying on reform and opening up as its driving power. In a complexed economic landscape, CREC was confronted with many new challenges including a global economic slowdown and increasing downward pressure on domestic economy. Still, CREC achieved remarkable results, with its total revenue of the year hitting a record high of 850.88 billion yuan, a year-on-year increase of 14.9 percent. By the end of 2019, CREC had won 120 National Science and Technology Progress Awards and National Technology Invention Awards, as well as multiple awards for its contracted projects, including 348 National Quality Engineering Awards, 185 Luban Awards, 140 Zhan Tianyou Awards. In 2019, CREC gained 12 new special-class certificates, ranking first among China’s central state-owned construction enterprises.
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