THE State Power Corporation of China has secured the number one spot in the list of China’s top 500 businesses of 2001, but still lags far behind world giants.

　The list was jointly released in Beijing Thursday by the China Enterprise Confederation and the China Enterprise Directors Association.

　They also issued the annual Chinese enterprise development report, according to a report in Friday’s China Daily.

　Hu Shuxin, vice president of the confederation, said the emphasis has been put on the disparity between China and the world’s top 500 enterprises in the report.“China’s enterprises have developed a lot, but they are still lagging behind the world giants,” the report said.

　In terms of its operational income last year, the State Power Corporation earned just 22 percent of retail giant Wal-Mart’s income, the best performer among the world’s top 500.The average net profit of the world’s top 500 enterprises was US$612 million.

　The average net profit of China’s top 500 was only equivalent to US$36,926. The net income of the top 500 Chinese enterprises was only 12.09 percent of the total income of the world’s top 500.

　Despite the disparity, the Chinese Government has decided to foster a group of businesses that will be strong competitors in the world market in the years to come. (Xinhua)