The Top 500 Chinese Enterprises list for 2022 was jointly released by the China Enterprise Confederation and the China Enterprise Directors Association on Sept 6. Shandong Port Group (SPG), with a total business revenue of 83.09 billion yuan ($11.93 billion), made the list for the first time and ranked 272nd, which is a milestone for SPG, indicating that the company's three-year port integration reform has entered into a new stage.

SPG was established on Aug 6, 2019. Since its establishment, SPG has coped calmly with the challenging situation presented by global changes and the COVID-19 pandemic. It took SPG only three years to join the rankings of the top 500 Chinese enterprises, which is an outstanding achievement. This has created a "Shandong model" of port integration among national coastal ports.

SPG's cargo volumes surpassed 1 billion metric tons for three consecutive years since 2019. Its cargo volume exceeded 1.5 billion tons and container throughput topped 34 million TEUs in 2021, ranking first and third across the world, respectively. Furthermore, its key financial indicators boast historical breakthroughs. The group's revenue has doubled from that of 2019 when the group was founded, and its profits increased by about 40 percent. Its overall assets, net worth and per-capita profits all rose by over 30 percent, ranking at the forefront among provincial State-owned enterprises across the country.

Taking advantage of its new platform created by the integrated development of its ports, SPG has opened 325 shipping routes, 30 inland ports and 80 freight lines. It has maintained the first position in sea-rail intermodal transportation capacity among national coastal ports for many years in a row. The market share of its major cargo categories such as crude oil, iron ore, bauxite and grain all lead the country, with annual import volumes accounting for one-third, one-fourth, two-thirds and one-fifth of the national total. Its four port groups continue to compete for the best in global and national rankings. Qingdao Port's cargo throughput jumped to fourth place globally, Rizhao Port ranked ninth globally, Yantai Port maintained the eighth position nationally, and Bohai Bay Port doubled its cargo volume. Qingdao Port topped Northeast Asia in the international shipping hub development index issued by the Xinhua News Agency.

The revenue of SPG's emerging businesses including logistics, finance and trade reached 47.71 billion yuan ($6.85 billion) in the first half of 2022, accounting for 74.7 percent of the company's total revenue, which was 6.1 percentage points higher than the same period last year.

Moving into the top 500 Chinese enterprises puts SPG at a new starting point. Looking ahead, SPG will continue to deepen port integration reform, and better leverage the role of ports in expanding the national economy and smoothing out supply chains. The overall aim is to gain a spot on the Fortune Global 500 list, and build a world-class seaport.

SPG plans to continue to deepen port integration reform, and better leverage the role of ports in expanding the national economy and smoothing out supply chains. [Photo provided to chinadaily.com.cn]