Rank: 15 (Previous rank: 24)
CEO: Liu Zhenya
Address: 86 Xichang'an Ave.
China's biggest power company -- dogged by natural disasters, high coal prices, and a slowing economy -- saw earnings fall by 80% in 2008. Its year was a tale of under-supply and overcapacity.
In the first half of 2008, state-owned China State Grid contended with a massive earthquake and the worst winter snowstorms in 50 years. At the same time, the price of coal used in its power plants spiked before the government ordered a cap. That led to rolling power shortages in the country. Later in the year, just as State Grid received increased coal shipments, growth in China's demand for power slowed for the first time since 1999. However the long-term outlook remains rosy: China's power demand and supply is expected to double by 2020.
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|Company||2008 Number of Employees|
|China National Petroleum||1,618,393|