On the evening of July 22, the Fortune China website announced worldwide the new list of the Global Fortune 500 enterprises. Hainan Airlines Group joined the list for the first time, ranking at 464th with an operating revenue of $ 25.6 billion.
Hainan Airlines Group is a large transnational corporate group which developed at a fast pace against the backdrop of reform and opening up of China in the last 30 plus years. Since its successful maiden flight on May 2, 1993, Hainan Airlines grew stronger going along with the tide of reform and opening up from a regional air transportation enterprise to a large corporate group with pillars of aviation, industry, finance, tourism and logistics covering the whole of China, Asia and beyond. HNA Group started its businesses from Hainan Island and expanded to the whole world. Currently, the Group has total assets of nearly 500 billion Yuan and holding in 10 listed companies and creates more than 110 thousand jobs
Through itsefforts, Hainan Airlines is committed to creating new business culture and establish its unique operation and management methodology which strives to integratecorporate interests with those of society and other stakeholders. Such new business culture embodies the virtues of traditional Chinese beliefs and combines socialist values with Chinese characteristics and the international corporate management, establishing a corporate culture accommodating to both Chinese and western cultures.
For the past 20 years, Hainan Airlines has taken corporate social responsibility one of the key pillars of its development strategies. Upholding the concept of “do more for society, do more for others”, Hainan Airlines, like a “a drop of water” that runs into the ocean of society, promotes social harmony with concrete actions. Up to now, Hainan Airlines has made donations to various causes totaling more than 900 million Yuan. The company won the “South-South Award for Corporate Social Responsibility” given by the UN. In October 2010, Hainan Airlines launched its Private Foundation, Hainan Liberation Commonweal Foundation. In October 2013, Hainan Airlines donated 20% of its equity to Hainan Liberation Commonweal Foundation, making the Foundation the single largest shareholder in the company. The establishment of the foundation demonstrated the corporate social responsibility of Hainan Airlines and serves as an important platform for the company to give back to society.
The Fortune 500 list has always been regarded as the most famous and authoritative list to measure the strength of global enterprises It is released byFortune Magazine annually. The number of Chinese enterprises on the list keeps climbing and reaches 106 this year. The top three companies are Wal-Mart, Sinopec and Shell.