INDUSTRY
The leading companies by market capitalization in China in March 2012 were PetroChina (US$276·8bn.); China Mobile (Hong Kong), a telecommunications company (US$223·9bn); and China Construction Bank (US$196·7bn.). In Nov. 2007 PetroChina was briefly the world’s largest company after its flotation on the Shanghai stock market, with a market capitalization in excess of US$1trn.; in March 2012 it ranked third after the USA’s Apple Inc. and Exxon Mobil.
Industry accounted for 48·1% of GDP in 2006, up from 21% in 1949 when the People’s Republic of China came into existence. Cottage industries persist into the 21st century. Industrial output grew by 15·7% in 2010. Modern industrial development began with the manufacture of cotton textiles and the establishment of silk filatures, steel plants, flour mills and match factories. In 2006 there were 287,406 non-state-owned industrial enterprises with an annual revenue of more than 5m. yuan, and a combined gross industrial output value of 28,586·1bn. yuan. Of these enterprises, 226,534 were domestically funded, 31,691 were foreign funded and 29,181 were dependent on funds from Hong Kong, Macao and Taiwan. There were 14,555 state-owned industrial enterprises in total, with a gross output value of 3,072·8bn. yuan.
Output of major products, 2009 (in tonnes): cement, 1,644·0m.; rolled steel, 694·1m.; crude steel, 572·2m.; pig iron, 552·8m.; distillate fuel oil (2008), 134·1m.; paper and paperboard, 89·7m.; chemical fertilizers, 63·9m.; petrol (2008), 62·9m.; sulphuric acid, 59·6m.; yarn, 23·9m.; residual fuel oil (2008), 17·4m.; sugar, 13·4m. Also produced in 2009: cloth, 75,342m. metres; beer, 41,621·8m. litres; 619·2m. mobile telephones; 150·1m. notebook PCs; 119·2m. watches (2008); 99·0m. colour TV sets; 84·6m. cameras; 80·8m. air conditioners; 59·3m. home refrigerators; 57·6m. bicycles; 49·7m. washing machines; 27·6m. motorcycles; 13·8m. motor vehicles. China is the world’s leading cement, steel and pig iron manufacturer (producing 53% of the world’s cement, 46% of crude steel and 58% of pig iron); since 2000 output of cement has doubled and production of crude steel and pig iron has quadrupled.
China Construction Bank: http://www.ccb.com
China Mobile Ltd: http://www.chinamobileltd.com
PetroChina Company Ltd: http://www.petrochina.com.cn
