China Minsheng Banking Corporation enters Global 500

2008-7-8 11:51:16

According to the recently announced 2008 Financial Times (FT) Global 500, China Minsheng Banking Corporation (CMBC) entered the list for the first time at 22.1153 billion USD, ranking at 419.

There are two features of the 2008 FT Global 500 announced this year. First, petroleum corporations have taken the place of banks in the front-row ratings. Secondly, the number of Chinese, Russian and Indian corporations in the ranking has increased rapidly. The number of Chinese corporations has increased from last year’s 8 to this year’s 25. In addition, most Chinese companies already in the list have upgraded in rank.

The Financial Times Global 500 is announced once every year, this year being its 12th year. This year’s listing, made on the basis of the stock prices of the respective corporations on March 31st, 2008, provides the public an annual glimpse of the corporations with the largest market values in the world, and shows their relative performances in their countries and industries. According to the ranking rules, corporations are listed on their market value, the higher the value, the higher its ranking. The market value is calculated by the stock price on March 31, 2008, times the number of stocks, and adjusted to the exchange rate to the dollar on March 31.

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