Guangxi Investment Group took the 490th place on this year's Fortune Global 500 list, with revenue of 180 billion yuan ($26.06 billion) in 2019. It was one of the eight Chinese companies to make the list for the first time.

Established in 1988, Guangxi Investment Group was one of the first investment and financing entities in Guangxi that emerged under China's economic system reform and opening up.

In recent years, the group has fully participated in market competition, undertook major investment tasks, promoted the transformation and upgrading of traditional industries, cultivated and developed emerging industries, as well as led the high-quality development of industries in the region.

Focusing on Guangxi's basic industries like energy and aluminum, Guangxi Investment Group has raised nearly 6 billion yuan in funds to promote the optimization of traditional industrial structures, address the shortcomings of industrial development, improve the industrial chain, as well as expand emerging industries like new materials, medical health, and digital economy.

The group provided financial services covering 20 business formats to improve the quality and efficiency of serving the real economy. It also operated 68 funds, with a total scale of 76.37 billion yuan, and invested 22.86 billion yuan in 169 projects.

To date, the group has 360 participating holding companies and four holding listed companies, with the equity market value exceeding 20 billion yuan.

The total assets of Guangxi Investment Group increased from 15 million yuan at the beginning of its establishment to 535.06 billion yuan in the first half of 2020, while its operating income increased from the initial 860,000 yuan to 180 billion yuan in 2019, with an average annual profit growth rate of 16.3 percent.

The group is the first Fortune 500 company in Southwest China and the first local company in Guangxi to enter the list. Its inclusion on the Fortune Global 500 is an important milestone in the history of Guangxi's state-owned enterprise reform and development.