Top 500 Firms of China Report First Revenue Decline in 15 Yrs
Chinas top 500 enterprises reported their first annual decline in combined revenues in 15 years, with a 0.07 per cent drop last year, as the economy continued to slow down amid falling oil prices and overcapacity issues.
Among the top 500 firms, 155 reported declines in revenues in 2015, 61 more than a year ago, with many of them representing the overcapacity-plagued coal, steel, oil and chemicals industries.
Meanwhile, 72 firms reported losses, 15 more than a year ago.
The data was contained in 2016 edition of the top 500 Chinese Enterprises released China Enterprise Confederation and China Enterprise Directors Association.
The list is based on revenues from 2015, state-run Xinhua news agency reported.
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