The 2019 list of the top 100 industrial enterprises in Shandong province was released on Nov 11 at an economic conference held by the Shandong Provincial Department of Industry and Information Technology.

The total revenue of Shandong's top 100 enterprises reached 6.11 trillion yuan ($922.4 billion) in 2019, an increase of 6.8 percent over 2018, when they had a total revenue of 5.72 trillion yuan.

Employees work on a washing machine production line operated by Haier Group in Qingdao, East China's Shandong province on Feb 27. Haier Group ranked third on a list of the 500 most valuable Chinese brands released by consulting and research firm World Brand Lab. [Photo by Wang Peike/For China Daily]

Last year, the top 100 companies reported profits of 278.94 billion yuan, down 5.19 percent from the previous year.

Of the top 100 enterprises, 71 belong to the manufacturing sector, 16 to the service sector, seven to construction, five to extractive industries and one to electricity.

Twenty of the companies are located in Jinan, the provincial capital, more than any other city in the province. Dongying ranks second with 15 enterprises and Qingdao third with 14 enterprises.

The top 100 enterprises are the backbone of the provincial economy and play a crucial role in its development, said local officials, adding that the list also serves as a weathervane for the optimization of industrial policies.