Nine Tobacco Manufacturers on China's Top 500 Enterprises for 2008

09/03/2008

Nine tobacco manufacturing enterprises are on the list of China's Top 500 Enterprises for 2008, jointly released by China Enterprise Confederation and China Enterprise Directors Association at a "summit of large Chinese enterprises" held in Yinchuan City of northwest China's Ningxia region on August 30. The nine tobacco manufacturing enterprises on the list of the Top 500 are respectively Shanghai Tobacco Group, Hongta Group, Hunan Provincial China Tobacco Industry Corporation, Hongyun Group, Zhejiang Provincial China Tobacco Industry Corporation, Hubei Provincial China Tobacco Industry Corporation, Henan Provincial China Tobacco Industry Corporation, Guizhou Provincial China Tobacco Industry Corporation and Honghe Group. For Shanghai Tobacco Group, it is ranked the 114th on the list of the Top 500 with its annual business income of 40.68678 billion yuan (5.57 billion U.S. dollars), and has taken the place of Hongta Group in southwest China's tobacco-producing Yunnan Province as the largest Chinese tobacco manufacturer. Hongta Group is ranked the 117th place on the list of the Top 500, which is upgradeable on an annual basis. The Top 500 Enterprises are annually paying taxes of 1.74 trillion yuan (238 million U.S. dollars), accounting for 35.2 percent of the national tax revenue, which reflects their outstanding contribution to the financial revenue of the State. In a related development, Hongta Group is ranked the 18th and Hongyun Group the 20th on the list of the Top 200 Corporate Taxpayers in China for 2008. Enditem