(Yicai Global) Aug. 20 -- Shanghai's 100 biggest companies combined to make almost CNY7 trillion (USD993 billion) in revenue in 2018

The figure was up CNY810 billion (USD115 billion, or 13.3 percent, from the previous year, Shangguan News reported yesterday, while the threshold for companies to make the list was CNY5 billion (USD709 million).

Twenty-one of the companies collected more than CNY100 billion in revenue, the largest count to date since the list was first published in 2016. SAIC Motor was the top earner, raking in more than CNY902 billion, while China Baowu Steel Group brought in CNY438.6 billion and Bank of Communications CNY434 billion.

The firms combined to pay CNY482.7 billion in taxes, nearly 1.9 percent more than in 2017.

In terms of net profit, Bank of Communications came out on top with CNY73.6 billion (USD10.4 billion), Shanghai Vanke Real Estate earned CNY56.2 billion and Shanghai Pudong Development Bank made CNY55.9 billion. The top 100 combined to earn CNY443.3 billion, up 11.4 percent from a year earlier, though banking, automotive and tobacco companies made slower than average growth -- between 1.4 percent and 4.9 percent.

The 100 companies owned assets worth CNY30.3 trillion in total, with 28 firms each holding CNY100 billion or more. The Bank of Communications' asset pool was worth CNY9.5 trillion, the highest on the list, while Shanghai Pudong Development Bank had assets worth CNY6.3 trillion and Bank of Shanghai had CNY2 trillion.

Editor: James Boynton