CNPC Rises to 52nd in Fortune Top 500

摘要

Fortune magazine has sent an official letter to CNPC, stating that its list of the Global 500 Companies has been revised, and that CNPC has been upgraded from the 73rd to the 52nd largest company in the world. Fortune on July 12 released the latest listing of the Global 500 Companies, its well-known ranking of the world's largest companies. On that list, CNPC was ranked 73rd, with revenues of US$47,049 million. "The publicized figure for revenues of CNPC is remarkably different from what our finance people provided to Fortune on May 14, 2004, which caused the incorrect ranking of the company," said Wen Qingshan, director of CNPC's Finance and Assets Department, in an interview with news media. In CNPC's e-mail to Fortune on May 14, 2004, the company stated its revenues at 475,287 million RMB yuan. After deducting 8,588 million yuan in excise taxes, the revenues are 466,699 million yuan, equal to around US$56,387 million at the exchange rate of 8.2767. The figure was misstated as US$47,049 million in the magazine, however, 9,338 million US dollars too low, said Wen.