Guangxi group advances ranking in Fortune Global 500 list

Guangxi Investment Group ranked 439th in the latest Fortune Global 500 list with an overall operating revenue of 191.2 billion yuan ($29.6 billion), which was released byFortunemagazine on Aug 2.

The ranking of Guangxi Investment Group was 51 places higher than that in 2020, setting its highest ranking to date. 

Guangxi Investment Group, established in 1988, has become a crutch for supporting Guangxi's economic development during its 33 years of growth.

In recent years, the company has been implementing an innovation-driven development strategy to push forward the high-end, intelligent and green development of traditional industries. It has sped up the cultivation of a batch of advanced emerging industries such as new materials, medicine and health, digital economy and scientific finance. 

The total assets of the company amounted to 597.7 billion yuan with a year-on-year growth of 22 percent by the end of 2020. Its overall operating revenue climbed by 6.2 percent year on year to 191.2 billion yuan.

The group's operating revenue has exceeded 111 billion yuan in the first half of 2021, becoming the first local State-owned company in Guangxi to achieve an operating revenue of over 100 billion yuan in the first six months.