The 2020 Fortune China 500 list was released July 27 once again listing Gree Electric Appliances, Huafa Industrial, and Ninestar, all headquartered in Xiangzhou District.

Gree Electric Appliances, the domestic household appliance giant based in Qianshan, has been among China's top 500 companies for 11 consecutive years. It dropped six places from the previous edition to 54th with annual operating revenue of 200.51 billion yuan ($28.6 billion) and market value of 394.51 billion yuan ($56.3 billion) in 2019.

Gree Electric Appliances Inc [Photo courtesy gree.com]

Huafa Industrial is a real estate company headquartered in Nanping that develops residential, commercial, tourism, land, and housing properties. It moved up 62 places to 296th with annual operating revenue of 33.15 billion yuan ($4.7 billion yuan) and market value of 16.58 billion yuan ($2.4 billion) last year.

Ninestar, one of the largest printing supply manufacturers in the world, is listed for the 3rd consecutive year, with its rank dropping 10 places to 392th. The company's annual operating revenue and market value were 23.3 billion yuan ($3.3 billion) and 35 billion yuan ($5 billion) respectively in 2019. Ninestar is located in the National Hi-Tech Industrial Development Zone (Tangjiawan).

The Fortune China 500 list is compiled by the Chinese edition of Fortune magazine and China International Capital Corporation Wealth Management and is based on the annual reports of all Chinese listed companies.

The threshold to enter this year's list was almost 17.8 billion yuan ($2.5 billion) in annual operating revenues, up 10 percent from the previous year.

Combined revenue of all entries on the list increased year-on-year by 11 percent to 50.5 trillion yuan ($7.2 trillion), while their total net profit grew by 16 percent to 4.2 trillion yuan ($600 billion).