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BNP PARIBAS

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BNP PARIBAS : A worldwide leader in Energy, Commodities, Export & Project FinanceDominique Remy Global Head of ECEPMarch 26, 2007ECEP within BNP ParibasEnergy, Commodities, Export, Project is one of the main business lines in BNP Paribas Corporate and Investment Banking unit Dedicated to the energy, commodities and transportation sectors as well as asset-based finance on a worldwide basis 16% of CIB revenues6. Looking forwardBNP Paribas Group 2006 Revenues 27.4 bn €*Retail banking 55%1. ECEP within BNP Paribas 2. Historical background 3. ECEP today 4. Our strengths 5. ECEP value creatorAsset Mgt & Services 16%Corporate and Investment Banking 29%20% of CIB pre-tax incomeOther Financing Businesses: 17% Fixed Income: 37% Equity & Advisory: 30%ECEP : 16%* Excluding BNP Paribas Capital and other activities2A longstanding leadership in this businessThe “Energy & Commodities” sector was already a strategic focus of each of BNP Paribas pre-merger components1. ECEP within BNP Paribas 2. Historical background 3. ECEP today 4. Our strengths 5. ECEP value creator 6. Looking forwardThe strategies pursued by each Bank were highly complementary :BNP: focus on corporate clients, soft commodities UEB (*): centralized organization, transactional financings, Oil & Gas Paribas: decentralized approach, structured financings, Oil & GasBNP Paribas “Energy & Commodities” merged business line was a leader from its inception, generating almost 400 M€ in revenues in 1999 and combining strengths on both sidesHigh level of expertise Broad customer baseThe missions initially given to the “Energy & Commodities” business line remain topical todaySectorial approachWorldwide responsibility Client knowledgeDevelopment of a leading brand and franchise(*)United European Bank, located in Switzerland, in which BNP increased its share from 50% to 100% in 1998.3An impressive growth track record20021. ECEP within BNP Paribas 2. Historical background 3. ECEP today 4. Our strengths 5. ECEP value creator 6. Looking forwardIntegration of Export Finance and Project Finance, with three strategic angles:Global competency on the E&C sector (sectorial coverage and management of sector-specific products) Emerging markets focus Extended wallet share from very short term to long term2003/2006At constant scope and exchange rate, ECEP revenues grew by a compounded average annual rate of 19% mn€2003200420052006Another record year for ECEP with revenues exceeding 1.2 bn €• with the integration of Global Trade Services, Aviation Finance, Shipping Finance, Structured Leasing & Capstar20061250 1000 750 500 250 0+ 67%4ECEP business modelEnergy & Commodities1. ECEP within BNP Paribas 2. Historical background 3. ECEP today 4. Our strengths 5. ECEP value creator 6. Looking forwardTransportationClient coveragePrimary responsibility over global management of client relationshipDedicated productsStructuring and distribution of financial products specific to each sectorGlobal productsExport Finance Global Trade Services Structured Leasing & Capstar Project Finance InfrastructureCIB clientsRetail clientsECEP is a sectorial coverage group with a global products responsibility5E&C and Transportation clientsCommodity Finance1. ECEP within BNP Paribas 2. Historical background 3. ECEP today 4. Our strengths 5. ECEP value creator 6. Looking forwardE&C Structured Debt Clients: producers, exporters, transformers (refiners, smelters, mills, crushers…), transporters, service companies, utilities in the USA and AustraliaClients: commodity trading and marketing companiesIndustries : Oil, Gas, Petrochemicals, Non-ferrous metals, Steel, Soft commodities, Pulp & PaperAviation Finance Clients: cargo and passenger airlines, operating lessors (aircraft/engines, new or used), business jets ownersShipping Finance Clients: cruise industry, tanker / container / dry bulk / LNG shipping companies, mega-yachts owners6A full range of financing products for E&C clientsCommodity Finance1. ECEP within BNP Paribas 2. Historical background 3. ECEP today 4. Our strengths 5. ECEP value creator 6. Looking forwardE&C Structured DebtProductsTransactional products: back-toback, inventory financing (unsold or sold), transit, processing, tolling, etc Corporate secured: borrowing base Corporate unsecured: short term unsecured trade lines Structured products: Structured Inventory Finance, small projects and pre-financing with recourseProductsPurchase receivable finance Corporate lending Oil & Gas, Mining and Power Project Finance Structuring advisory (for financing or capital market solutions) Pre-Export financing Reserve Based Lending7Global products serving all BNP Paribas clientsGlobal Trade Services1. ECEP within BNP Paribas 2. Historical background 3. ECEP today 4. Our strengths 5. ECEP value creatorStructured Leasing & CapstarOptimization, securing and financing of international trade transactions for large corporate and mid-size companies through documentary credits, guarantees, forfaiting, supply chain financingAdvising and arranging of fixed asset-based tax-driven financings, synthetic (off-balance sheet) and capital (on-balance sheet) leasesGlobal productsExport Finance Project Finance Infrastructure Advising, structuring and underwriting of non-recourse cash flow-based financings of greenfield projects or single assets (roads, airports, water supply infrastructures…)6. Looking forwardExport Credit Agencies-backed loans to both sovereign and corporate borrowers located worldwide and acting in any industrial sector8A diversified revenue baseBreakdown of 2006 Revenues (pro-forma)1. ECEP within BNP Paribas 2. Historical background 3. ECEP todayFlow businesses: 41%7%GTS Asset Finance Excl GTS34%Commodity Finance20%Structured businesses: 59%E&C Structured Debt 4. Our strengths 5. ECEP value creator 6. Looking forward39%11% Project Finance (O&G, Power, Mining) 28% Other E&C Structured DebtE&C businesses: 73%Ensuring recurrence of revenues9A presence in over 40 countriesEUROPE and EASTERN EUROPE1. ECEP within BNP Paribas 2. Historical background 3. ECEP today 4. Our strengthsNORTH AMERICA195750ASIA140MIDDLE EAST AFRICA17LATIN AMERICA501,200 staff5. ECEP value creator 6. Looking forwardAUSTRALIA16High level of geographical diversification C. 50% of revenues generated from emerging markets (incl. new industrialized countries, i.e. rated BBB+ and below)4 hubs in Paris, New York, Geneva and Singapore21%33%16%13% 17%Americas Asia MEA Western Europe Eastern Europe2006 Revenues by destination zone10A unique blend of expertise…A global network resulting in an in-depth knowledge of our sectors and of emerging markets, away from any “stop-andgo” attitude1. ECEP within BNP Paribas 2. Historical background 3. ECEP today 4. Our strengths 5. ECEP value creator 6. Looking forwardA powerful combination of client coverage, structured financing, as well as risk management, advisory and underwriting capabilitiesA high capacity to engineer creative structured solutions boosting revenues of business lines acting on more mature marketsGlobal Trade Services, Export Finance, Shipping Finance, Aviation Finance, Structured Leasing & Capstar11… enabling us to deliver tailor-made multi-product solutionsCross execution between ECEP and Fixed Income as sole Lead Arranger of a Project Finance bond issue to refinance a cogeneration power plant Joint structuring between ECEP and Commodity Derivatives of a Credit Facility incorporating exclusive WTI crude oil swaps as well as purchase / transportation / delivery of crude oil by BNP Paribas Joint effort between ECEP, Commodity Derivatives, Public Finance and Fixed Income in a municipal natural gas prepurchase transaction First unrated wind energy Project Finance deal executed in the US Private Placement marketStrong product innovation capacity Entrepreneurial spirit1. ECEP within BNP Paribas 2. Historical background 3. ECEP today 4. Our strengths 5. ECEP value creator 6. Looking forward12Worldwide leadership in our key businessesBest Commodity Bank1. ECEP within BNP Paribas 2. Historical background 3. ECEP today 4. Our strengths 5. ECEP value creator 6. Looking forwardLeadership in oil exports financing with circa. 6 to 8 millions bbl per day financed through documentary operationsBest global Trade Finance provider Best Project Finance HouseAmong the Top 3 Global Project Finance Mandated Lead Arrangers with 3.8% market shareAircraft Finance innovator of the yearN°1 worldwide arranger of ECA-backed aircraft financing solutionsA leading Export Finance Bank12.3% market share as Mandated Lead Arranger in ECA-backed loansOne of the Top 3 Shipping Finance institutions6.1% market share in Syndicated Shipping Loans Most innovative Shipping Finance Deal 200613Unparalleled know-how to manage distinctive risksFocus on strategic commodities in emerging marketsECEP did not record any loss during South-East Asia and Russia crises1. ECEP within BNP Paribas 2. Historical background 3. ECEP today 4. Our strengths 5. ECEP value creator 6. Looking forwardHighly collateralized Commodity Finance transactionsCollateral Management segregated from front-office and controlled by an independent Collateral Control TeamAttention given to the control of Operational RiskDocumentation monitoringImportance granted to procedural and regulatory compliance“Know Your Customer” rules strictly applied Regular staff trainingCredit Management function independent from front-office Hands-on management of sensitive assetsThis has led to the almost complete recovery of Project Finance US doubtful portfolio (Merchant Power sector)Proven track record Competitive advantage14Creating value for CIB and BNP Paribas overallEquity Derivatives1. ECEP within BNP Paribas 2. Historical background 3. ECEP today 4. Our strengths 5. ECEP value creator 6. Looking forwardFixed IncomeHigh-yield / high-grade bond issues, Securitization, Interest rate derivatives, Foreign exchange…Cash share repurchases, equity swaps, commoditylinked equity derivatives, hedging and monetization…Commodity DerivativesListed futures, plain vanilla commodity swaps and options, composite hedging strategies, exotic options…Asset ManagementECEPInvestment products, Pension fund management…Cash ManagementElectronic cash management products, Global cash pooling…Corporate FinanceM&A advisory, IPOs, Convertible bonds…15Focus on Commodity DerivativesCommodity Derivatives includes two complementary risk management activities…1. ECEP within BNP Paribas 2. Historical background 3. ECEP today 4. Our strengths 5. ECEP value creator 6. Looking forwardFutures brokerage (platforms in London and New York) Commodity-Indexed Trading: OTC derivatives trading… providing commodity price risk management solutionsThe brokerage team executes & clears futures (ICE, LME, NYMEX, NYBOT…) The OTC group acts as principal, transacts swaps and options with clients under bilateral ISDA agreements; client-driven market-making activity Strict segregation of duties in place between the two activitiesA Leading Position in the Derivatives MarketplaceExperienced 130+ sales & trading staff in London, New York and Singapore A focus on all commodities Energy products: Crude Oil, Oil products, Natural gas, European Power Base Metals: non-ferrous metals, precious metals Soft commodities A wide range of instruments and structured hedgings offer An expansion of the business model from corporate customers to a new class of investors (hedge funds, institutions…) leveraging off our Equity Derivatives platform16A pioneering role in emerging markets on behalf of CIBMost underground reserves of commodities are located in emerging countries while consumption is in industrialized countries1. ECEP within BNP Paribas 2. Historical background 3. ECEP today 4. Our strengthsCommodity producers in emerging countries need tailor-made financing solutions as they have a limited access to international capital markets ECEP has built extensive relationships with large strategic commodity producers located in emerging countries Our know-how enables us to move forward through the range of financing products…Commodity Trade Finance5. ECEP value creator 6. Looking forwardCommodity Structured FinanceCommodity Corporate Finance… eventually opening the door to other CIB products, as the country and the clients become more sophisticated17An evolving business environmentCurrent high-cycle environment1. ECEP within BNP Paribas 2. Historical background 3. ECEP today 4. Our strengths 5. ECEP value creator 6. Looking forwardCommodity prices trends highly dependent on global economic growth Short-term evolution contrasted and sometimes erraticProven resilience to such factors Reduced importance of short-term commodity trade financeNew competitors, generally unfamiliar with our sectorsCash-rich industries and abundant liquidities are driving pricing down Limited know-how of new entrants, accepting lower standards However, clients are returning to industry leaders in awarding business (quality of service, product and value delivered)Increasingly blurry boundariesIndustrialized vs emerging countries, at least in BRIC+ E&C structured financing products (pre-export financing, reserve-based lending, project finance…) Leveraging off our longstanding relationships with emerging countries clients by offering addedvalue products to accompany them in their developmentSocietal requirementsClimate change Sustainable development Clean energy We are a leader in the financing of renewable energy projects18Strategic overviewPursue our geographical development in selected areas1. ECEP within BNP Paribas 2. Historical background 3. ECEP today 4. Our strengths 5. ECEP value creator Power Trading and CO2 initiative 6. Looking forward Wind farm, ethanol and bio-diesel in Project Finance Reserve-Based Lending in developing countriesAsia: a region in expansion where significant investments have been carried out (Commodity Finance China, India…) Middle East / Africa: an area where margins are still attractive Russia and ex-CIS: still a strong potential on the E&C sidePosition ourselves along new export flowsExpand our relationships with Export Credit Agencies located in new industrialized countriesFurther grow our Energy & Commodities franchisePrivate EquityContinue to favor the development of structured products Accelerate our transition towards being a global solution providerRemain close to our clients as their needs are diversifying19BNP PARIBAS : A worldwide leader in Energy, Commodities, Export & Project FinanceDominique Remy Global Head of ECEPMarch 26, 2007。

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欧美金融体系

欧美金融体系

May 2007 代理行知识讲座
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May 2007
代理行知识讲座
4. 美国金融监管体系
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美国的金融体系受到州和联邦两级监管机构的双重监管。主要 由货币监理署、联邦储备体系、联邦存款保险公司三个联邦监管 机构及州政府金融监管机构组成。 1）货币监理署
隶属于美国财政部，直接向国会报告，总监由总统任命，独立性强 最早的联邦级银行管理机构，主要职责：审批国民银行的注册和分支行的设 置，制定相应的管理条例，检查国民银行的资本营运等……
• 4）联邦金融机构监管委员会——金融监管的协调机制
• 为金融机构的监管制定统一的原则、标准以及报告形式
• 5）州政府管理机构——50个州均有，负责监督州立银行
May 2007
代理行知识讲座
5. 美国的联邦专业信贷机构（即政策性金融机构）
主要包括农业信贷机构、住房信贷机构、美国进出口银行和中 小企业管理局等，均由政府出资设立，不以赢利为目的，服务于 专门领域。
May 2007 代理行知识讲座
2.德国金融监管体系
1）监管机构：同时受到德国联邦银行 （中央银行）和联邦金融服务监管局的监 管，各自分担监管责任，密切合作。
因为1998年欧洲中央银行的成立，国家中央银行的功能被削弱。 联邦金融服务监管局于2002年成立，由原来各自独立的银行监 管机构、证券监管机构、保险监管机构合并而成，内设若干部门， 监管不同的金融服务业机构（资本充足性、流动性、资产质量等） 《银行法》是德国银行业经营的根本大法，包括对外资银行的 监管。德国的资本市场相对来说受到的限制较小。
7. 我行在美国的主要代理行
美联银行（Wachovia）——4th largest bank holding
世界500强公司名单-1997

世界500强公司名单-1997

排名公司名称国家营业收入利润地区百万美元百万美元1GENERAL ELECTRIC美国168,369.0049,630.00 2FORD MOTOR美国146,991.004,446.00 3MITSUI日本144,924.80321.9 4MITSUBISHI日本140,203.70394.1 5ITOCHU日本135,542.10110.9 6ROYAL DUTCH/SHELL GROUP英国/荷兰128,174.508,887.10 7MARUBENI日本124,026.90178.6 8EXXON美国119,434.007,510.00 9SUMITOMO日本119,281.301,292.80 10TOYATA MOTOR日本108,702.003,426.20 11WAL-MART STORES美国106,147.003,056.00 12GENERAL ELECTRIC美国79,179.007,280.00 13NISSHO IWAI日本78,921.20136.9 14NIPPON TELEGRAPH＆TELEPHONE日本78,320.701,330.30 15INTL.BUSINESS MACHINES美国75,947.005,429.00 16HITACHI日本75,669.00784 17AT＆T美国74,525.005,908.00 18NIPPON LIFE INDURANCE日本72,575.002,799.10 19MOBIL美国72,267.002,964.00 20DAIMLER-BENZ德国71,589.301,776.10 21BRITISH PETROLEUM英国69,851.903,985.20 22MATSUSHITA ELECTRIC INDUSTRIAL日本68,147.501,223.90 23VOLKSWAGEN德国66,527.50437.9 24DAEWOO韩国65,160.20468.3 25SIEMENS德国63,704.701,877.10 26CHRYSLER美国61,397.003,529.00 27NISSAM MOTOR日本59,118.20690.2 28ALLIANZ德国56,577.201,096.30 29U.S.POSTAL SERVICE美国56,402.001,567.20 30PHILIP MORRIS美国54,553.006,303.00 31UNILEVER英国/荷兰52,067.002,499.70 32FLAT意大利50,509.001,470.10 33SONY日本50,277.001,238.10 34DAI-ICHI MUTUAL LIFE INSURANCE日本49,114.701,941.30 35IRI意大利49,055.70279.4 36NESTLE瑞士48,932.502,751.20 37TOSHIBA日本48,415.80595.5 38HONDA MOTOR日本46,994.501,963.60 39ELF AQUITAINE法国46,818.001,363.70 40TONEN日本46,506.3042.2 41BANK OF TOKYO-MITSUBISHI日本46,451.00361.6 42VEBA GROUP德国45,246.201,633.20 43TOKYO ELECTRIC POWER日本44,732.00724.5 44TEXACO美国44,561.002,018.00 45SUMITOM LIFE INSURANCE日本44,063.301,858.40 46SUNKYONG韩国44,031.00313 47NEC日本43,932.7081348ELECTRICITE DE FRANCE法国43,658.70209 49STATE FARM INSURANCE COS美国42,781.202,567.90 50DEUTSCHE TELEKOM德国41,910.701,168.10 51PHILIPS ELECTRONICS荷兰41,036.50349.9 52UNION DES ASSURANCES DE PARIS法国40,736.701,259.90 53PRUDENTIAL INS.CO.OF AMERICA美国40,175.001,006.00 54FUJITSU日本39,982.30409.7 55 E.I.DU PONT DE NEMOURS美国39,689.003,636.00 56DEUTSCHE BANK德国39,413.001,418.00 57RWE GROUP德国39,289.20818.2 58ENI意大利38,843.502,885.10 59CHEVRON美国38,691.002,607.00 60HEWLETT-PACKARD美国38,420.002,586.00 61SEARS ROEBUCK美国38,236.001,271.00 62METOR HOLDING瑞士36,567.70405.6 63RENAULT法国35,979.101,025.80 64ING GROUP荷兰35,912.501,969.50 65PROCTER＆GAMBLE美国35,284.003,046.00 66BMW[BAYERISCHE MOTOREN WERKE]德国34,727.90540.2 67CREDIT AGRICOLE法国34,619.601,471.80 68ABB ASEA BROWN BOVERI瑞士34,571.001,233.00 69NICHIMEN日本34,545.1043.7 70TOTAL法国34,513.001,103.50 71SAMSUNG韩国34,286.5064.7 72PEUGEOT法国33,914.70143.5 73PDVSA委内瑞拉33,855.004,495.00 74HOECHST德国33,838.801,404.70 75MEIJI LIFE INSURANCE日本33,175.401,574.90 76MISUBISHU ELECTRIC日本33,072.6075.7 77AMOCO美国32,726.002,834.00 78AXA法国32,681.40744.5 79CITICORP美国32,605.003,788.00 80MITSUBISHI MOTORS日本32,601.20103 81CIE GENERALE DES EAUX法国32,428.80381.7 82BASF德国32,403.601,854.00 83BAYER德国32,298.001,810.60 84GAN法国32,259.501,110.80 85ALCATEL ALSTHOM GROUP法国31,683.80532.6 86PEPSICO美国31,645.001,149.00 87KMART美国31,437.00220 88KANEMATSU日本30,868.80244.4 89ZURICH INSURANCE瑞士30,760.50920.7 90SSANGYONG韩国30,530.80125.6 91CARREFOUR法国30,277.10610.4 92INDUSTRIAL BANK OF JAPAN日本30,208.00113.1 93ASSICURAZIONO GENERALI意大利29,618.50931.9 94FRANCH TELECOM法国29,564.50411.8 95NOVARTIS瑞士29,310.201,863.80 96HSBC HOLDINGS英国28,859.904,859.7097PEMEX[PETROLEOS MEXICANOS]墨西哥28,429.502,170.50 98DAIEI日本28,281.20107 99VIAG德国28,207.70530.2 100AMERICAN INTERNATIONAL GROUP美国28,205.302,897.30 101MOTOROLA美国27,973.001,154.00 102SANWA BANK日本27,972.80229.5 103MITSUBISHI HEAVY INDUSTRIES日本27,899.201,097.40 104PRUDENTIAL英国27,833.902,197.20 105ABN AMRO HOLDING荷兰27,651.201,958.90 106CREDIT SUISSE瑞士27,647.002,094.30 107CHASE MANHATTAN CORP美国27,421.002,461.00 108ROBERT BOSCH韩国27,339.80277.1 109HYUNDAL韩国27,278.507.7 110NIPPON STEEL日本27,178.4030.6 111ITO-YOKADO日本27,137.10668.1 112LOCKHEED MARTIN美国26,875.001,347.00 113THYSSENI德国26,158.80201.5 114SOCIETE GENERALE法国26,010.50888.2 115ASAHI MUTUAL LIFE INSURANCE日本25,432.60908.8 116CNP ASSURANCES法国25,399.70307.3 117DAYTON HUDSON美国25,371.00463 118CREDIT LYONNAIS美国25,180.4039.5 119KROGER美国25,170.90349.9 120FANNIE MAE韩国25,054.002,725.00 121MERRILL LYNCH美国25,011.001,619.00 122BAT INDUSTRIES英国24,937.202,351.80 123CONAGRA美国24,821.60188.9 124SAMSUNG ELECTRONICS韩国24,710.30136.3 125ALLSTATE美国24,299.002,075.00 126MUNCHENER RUCK德国24,191.60340.9 127BANQUE NATIONALE DE PARIS法国24,125.30807 128FUJI BANK日本24,071.30968.1 129ENEL意大利23,833.10824.6 130BT英国23,695.203,295.30 131JAPAN POSTAL SERVICE日本23,689.401,261.90 132J.C.PENNEY美国23,649.00565 133WINTERTHUR GROUP瑞士23,574.10409.9 134CANON日本23,515.80865.7 135UNITED TECHNOLOCIES美国23,512.00906 136VOLVO瑞典23,265.901,860.10 137METROPOLITAN LIFE INSURANCE美国23,238.00853 138KANSAI ELECTRIC POWER日本23,178.50489.8 139MANNESMANN德国23,045.40254.5 140SUMITOMO BANK日本22,810.70302.3 141NATIONAL WESTMINSTER BANK英国22,783.70685.5 142NATIONAL WESTMINSTER HOLDINGS香港22,694.10110.6 143SAKURA BANK日本22,693.20157.6 144BOEING美国22,681.001,095.00 145FORTIS比利时/荷兰22,646.40922.5146RAO GAZPROM俄罗斯22,553.901,825.80 147UNITED PARCEL SERVICE美国22,368.001,146.00 148EAST JAPAN RAILWAY日本22,317.70627.3 149BANKAMERICA CORP美国22,071.002,873.00 150TESCO英国21,942.00821.6 151KONINKLIJKE AHOLD荷兰21,669.10375.1 152JOHNSON＆JOHNSON美国21,620.002,887.00 153DRESDANER BANK德国21,489.301,021.50 154TRAVELERS GROUP美国21,345.402,331.00 155GET美国21,339.202,798.30 156J.SAINSBURY英国21,251.90639.4 157CIE FINANCIERE DE PARIBAS法国21,211.90850.2 158MITSUI MUTUAL LIFE INSURANCE日本21,208.20792.3 159USX美国21,076.00943 160LONG-TERM CREDIT BANK OF JAPAN日本20,987.00172.9 161INTEL美国20,847.005,157.00 162BCE加拿大20,658.00844.9 163WESTDEUTSCHE LANDESBANK德国20,473.50451.1 164BANK OF CHINA 中国20,416.001,067.00 165DAI-ICHI KANGYO BANK日本20,395.101,574.50 166LLOYDS TSB GROUP英国20,372.602,459.50 167ROYAL＆SUN ALLIANCE英国20,310.20724.6 168PROMODES法国20,236.50243.7 169INTERANATIONAL PAPER美国20,143.00303 170JUSCO日本20,120.20272.8 171DEUTSCHE BAHN德国20,080.60730.2 172DOW CHEMICAL美国20,053.001,907.00 173LOEWS美国19,964.801,383.90 174COLUMBIA/HCA HEALTHCARE美国19,909.001,505.00 175MERCK美国19,828.703,881.30 176BARCLAYS BANK英国19,691.802,559.50 177COMMERZBANK德国19,690.50790.7 178COSTCO美国19,566.50248.8 179HOME DEPOT美国19,535.50937.7 180XEROX美国19,521.001,206.00 181CHUBU ELECTRIC POWER日本19,272.90340.8 182LYONNAISE DES EAUX法国19,260.20263.7 183NIPPON OIL日本19,186.30111.6 184TENEO西班牙19,181.101,412.90 185ATLANTIC RICHFIFELD美国19,168.501,663.00 186ASSURANCES GENERALES DE FRANCE法国19,062.00300.2 187BELLSOUTH美国19,040.002,863.00 188CIGNA美国18,950.001,056.00 189YASUDA MUTUAL LIFE INSURANCH日本18,906.601,231.10 190UNION BANK OF SWITZERLAND瑞士18,902.40283.1 191L.M.ERICSSON瑞典18,767.001,060.00 192WALT DISNEY美国18,739.001,214.00 193AMERICAN STORES美国18,678.10287.2 194KAJIMA日本18,650.2065.2195SARA LEE美国18,624.00916 196COCA-COLA美国18,546.003,492.00 197MCI COMMUNICATIONS美国18,494.001,202.00 198COMMERCIAL UNION英国18,355.00620 199GROUPE AUCHAN法国18,217.90138 200COMPAQ COMPUTER美国18,109.001,312.90 201TOKIO MARINE & FIRE INSURANCE日本18,093.90233.3 202PETROBAS巴西18,074.20665.2 203BRIDGESTONE日本17,998.60646.5 204SINOCHEM中国17,953.0071.3 205SAINT-GOBAIN法国17,861.50845 206PREUSSAG德国17,787.80169.7 207SHV HOLDINGS荷属安的列斯17,769.90190.7 208AMR美国17,753.001,016.00 209DEUTSCHE POST德国17,742.20224.1 210TAISEI日本17,597.9051.3 211BAYERISCHE VEREINSBANK德国17,597.70539.2 212SAMSUNG LIFE INSURANCE韩国17,530.0052.2 213NATIONSBANK CORP美国17,509.002,452.00 214NEW YORK LIFE INSURANCE美国17,347.00579.4 215NORINCHUKIN BANK日本17,319.50274.9 216LG INTERNATIONAL韩国17,311.1026.9 217AMERICAN EXPRESS美国17,280.001,901.00 218SAFEWAY美国17,269.00460.6 219LA POSTE法国17,094.80120 220ISUZU MOTORS日本17,075.0085.1 221RJR NABISCO HOLDINGS美国17,063.00611 222AETNA美国16,900.20651 223MAZDA MOTOR日本16,816.90155.8 224CHIYODA MUTUAL LIFE INSURANCE日本16,778.40219.2 225RHONE-POULENC法国16,773.60756.6 226FRANZ HANIEL德国16,757.20205.6 227NKK日本16,670.00148.2 228COMPART意大利16,609.9062.2 229STATOIL挪威16,582.80818.6 230RAG德国16,572.2091 231SUPERVALU美国16,551.90175 232CATERPILLAR美国16,522.001,361.00 233REPSOL西班牙16,519.00941.1 234FLEMING美国16,486.7026.7 235IMPERIAL CHEMICAL INDUSTRIES英国16,428.004,229.40 236GROUPE DANONE法国16,406.60661 237ELECTROLUX瑞典16,399.10275.8 238TELEBARS巴西16,394.502,742.40 239SANYO ELECTRIC日本16,391.00156.9 240UAL美国16,362.00533 241MYCAL日本16,185.80136.6 242JAPAN TOBACCO日本16,051.20767.5 243KARSTADT德国15,978.2038.8244FRIED.KRUPP AGG HOESCH-KRUPP德国15,972.2097 245EASTMAN KODAK美国15,968.001,288.00 246TOYOTA TSUSHO日本15,932.5055 247SHARP日本15,897.00431 248J.P.MORGAN&CO.美国15,866.001,574.00 249NIPPON EXPRESS日本15,851.70244.1 250TELEFONICA DE ESPANA西班牙15,834.701,265.20 251TOKAI BANK日本15,823.60149.1 252PHILLIPS PETROLEUM美国15,807.001,303.00 253GROUPE PINAUL-PRINTEMPS法国15,713.50403.6 254SWISS BANK CORP瑞士15,708.701,581.50 255SWISS LIFE INS.&PENSION瑞士15,690.601,212.60 256BANCO DO BRASIL巴西15,657.008,012.90 257INDIAN OIL印度15,650.00398.5 258SNCF法国15,442.003,426.30 259MITSUBISH CHEMICAL日本15,379.40106.3 260ISTITUTO BANC.SAN PAOLO DI TORINO意大利15,268.6030.9 261SHIMIZU日本15,252.9047.1 262FEDERATED DEPARTMENT STORES美国15,229.00265.9 263GROUPE CAISS D'EPARGNE法国15,095.50357.5 264BRISTOL-MYERS SQUIBB美国15,065.002,850.00 265HYPO-BANK GROUP德国15,062.20444.5 266BROKEN HILL PROPRIETARY澳大利亚14,923.10787.8 267AMERITECH美国14,917.002,134.00 268BTR英国14,883.60673 269JAPAN ENERGY日本14,780.20410.9 270LG ELECTRONICS韩国14,765.5036.5 271BG英国14,764.80891.7 272IDEMITAL EQUIPMENT日本14,749.2030.9 273BERTELSMANN德国14,728.00480.2 274HANSON英国14,563.802,188.50 275DIGITAL EQUIPMENT美国14,562.80111.8 276AEGON荷兰14,522.20929.9 277CIE DE SUEZ法国14,510.30164.8 278HYUNDAI MOTOR韩国14,491.2065.8 279SANTANDER GROUP西班牙14,459.30675.7 280DENSO日本14,426.10633 281COLES MYER澳大利亚14,418.10214.3 282KOREA ELECTRIC POWER韩国14,393.70742.8 283MICHELIN法国14,364.10565.1 284ROCKWELL INTERNATIONAL美国14,343.00726 285BOUYGUES法国14,341.00127.8 286LEHMAN BROTHERS HOLDINGS美国14,260.00416 287ITAUSA-INVESTMENTOS ITAU巴西14,242.60294.2 288MINNESOTA MINING&MFG美国14,236.001,526.00 289SPRINT美国14,234.001,183.80 290TAKENAKA日本14,214.10176.4 291SWISS REINSURANCE瑞士14,130.501,180.20 292AMERICAN HOME PRODUCTS美国14,088.301,883.40293JAPAN TRAVEL BUREAU日本14,061.0018.9 294RABOBANK荷兰14,035.90967.9 295ALLIEDSIGNAL美国13,971.001,020.00 296JAPAN AIRLINES日本13,913.20128.5 297SBCC COMMUNICATIONS美国13,898.202,101.00 298USINOR法国13,888.90291 299TAIYO MUTUALLIFE INSURANCE日本13,883.90126.8 300MAN德国13,866.60206.9 301COLLEGE RETIREMENT EQUITIES FUND美国13,864.60N.A302LUFTHANSA GROUP德国13,862.40368.1 303MCDONNELL DOUGLAS美国13,834.00788 304TEACHERS INSURANCE&ANNUITY ASSN美国13,828.10934.5 305GENERAL ACCIDENT英国13,792.00813.6 306ALBERSON＇S美国13,776.70493.8 307OBAYASHI日本13,685.50120.9 308KOBE STEEL日本13,614.20155.4 309AACHENER&MUNCHENER德国13,553.00145.2 310DELHAIZE "LE LION"比利时13,521.10140.6 311MCKESSON美国13,478.80133.9 312PETROFINA比利时13,455.40518.3 313NYNEX美国13,453.801,477.00 314TOHOKU ELECTRIC POWER日本13,423.90242.5 315SYSCO美国13,395.10276.9 316STANDARD LIFE ASSURANCE英国13,362.80N.A317SUZUKI MOTOR日本13,338.70298.2 318ARCHER DANIELS MIDLAND美国13,314.00695.9 319AKZO NOBEL荷兰13,307.00781.6 320ENRON美国13,289.00584 321BRITISH AIRWAYS英国13,262.00877.4 322NORSK HYDRO挪威13,150.80961.7 323KIMBERLY-CLARK美国13,149.101,403.80 324DENTSU日本13,146.70120.6 325MORGAN STANLEY GROUP美国13,144.001,029.00 326ALCOA美国13,128.40514.9 327GOOGYEAR TIRE&RUBBER美国13,112.80101.7 328BELL ATLANTIC美国13,081.401,881.50 329GROUPE CASINO法国13,064.70163.8 330YASUDA FIRE&MARINE INSURANCE日本13,040.50112.9 331GLAXO WELLCOME英国13,025.303,118.50 332SEKISUI HOUSE日本13,024.40388.1 333GEORGIA-PACIFIC美国13,024.00156 334MIGROS瑞士13,024.60209.1 335WINN-DIXIE STORES美国12,955.50255.6 336DEUTSCHE GENOSSENSCHAFTSBANK德国12,945.10182.4 337SUMITOMO METAL INDUSTRIES日本12,942.10235.4 338ROCHE HOLDING瑞士12,915.503,154.00 339US WEST美国12,911.001,178.00 340BANLGESELLSCHAFT BERLIN德国12,852.0016.6 341PECHINEY法12,742.40581.9342BAYERISCHE LANDESBANK德国12,716.90301.5 343OTTO VERSAND德国12,702.70242 344BANCO BILBAO VIZCAYA西班牙12,624.20823 345MAY DEPARTMENT STORES美国12,601.00755 346GRAND METROPOLITAN英国12,575.8077.1 347KYUSHU ELECTRIC POWER日本12,553.50351.8 348KAWASHO日本12,541.1011 349IBP美国12,538.80198.7 350HARTFORD FINANCIAL SERVICES美国12,473.0099 351DELTA AIR LINES美国12,455.00156 352MARKS&SPENCER英国12,441.601,197.20 353ROYAL PTT NEDERLAND荷兰12,427.501,444.10 354SMITHKLINE BEECHAM英国12,375.701,616.30 355NATIONWIDE INS.ENTERPRISE美国12,358.30412.9 356RAYTHEON美国12,330.50761.2 357ASHLAND美国12,300.70211.1 358PTT SUISSES瑞士12,299.10202.2 359NIPPON CREDIT BANK日本12,258.103,344.60 360DAIDO LIFE INSURANCE日本12,202.00557.3 361BANCA DI ROMA意大利12,199.3078.7 362KOC HOLDING土耳其12,185.60581.2 363FEDERAL HOME LOAN MORTGAGE美国12,116.001,243.00 364NORTHWESTERN MUTUAL LIFE INS.美国12,110.00620.2 365VIACOM美国12,084.201,247.90 366ROYAL BANK OF CANADA加拿大12,065.601,047.30 367BANCO BRADESCO巴西12,054.90820.3 368SCHNEIDER法国12,047.30258 369INGRAM MICRO美国12,023.50110.7 370COFCO中国12,021.9092.9 371POHANG IRON&STEEL韩国11,990.00735.1 372FIRST UNION CORP.美国11,985.001,499.00 373COASTAL美国11,920.20402.6 374COSMO OIL日本11,887.2078.5 375ASAHI GLASS日本11,872.60214.6 376L'OREAL法国11,795.10683.6 377WALGREEN美国11,778.40371.7 378TEXAS INSTRUMENTS美国11,713.0063 379RICOH日本11,684.20256.8 380SEIYU日本11,674.4026.9 381TOHU MUTUAL LIFE INSURANCE日本11,668.70109.3 382CARIPLO意大利11,657.7079.7 383DAI NIPPON PRINTING日本11,631.20498.6 384JARDINE MATHESON香港11,605.00300.2 385PETRONAS马来西亚11,553.602,912.10 386NATIONAL AUSTRALIA BANK澳大利亚11,516.301,620.60 387LAGARDERE GROUPE法国11,510.00202.9 388ASAHI CHEMICAL INDUSTRY日本11,466.90225.1 389BRITISH STEEL英国11,461.30491.8 390UPM-KYMMENE芬兰11,452.40216.3391SUMITOMO TRUST&BANKING日本11,395.2064.4 392CENTRAL JAPAN RAILWAY日本11,361.80323.2 393SHOWA SHELL SEKIYU日本11,350.8055.6 394TOPPAN PRINTING日本11,313.70192 395PFIZER美国11,306.001,929.00 396MITSUI FUDOSAN日本11,282.40390.6 397DEERE美国11,229.40817.3 398SUMITOMO ELECTRIC INDUSTRIES日本11,213.00285.9 399ABBEY NATIONAL英国11,207.601,197.70 400SEAGRAM加拿大11,194.00142 401TAKASHIMAYA日本11,176.6083.7 402EMERSON ELECTRIC美国11,149.901,018.50 403MITSUBISHI TRUST&BANKING日本11,130.1099.6 404IKON OFFICE SOLUTIONS美国11,122.60210.7 405FUJI PHOTO FILM日本11,116.40757.7 406WEYERHAEUSER美国11,114.00463 407MATSUSHITA ELECTRIC WORKS日本11,060.80289.2 408FIOUR美国11,015.20268.1 409ABBOTT LABORATORIES美国11,013.501,882.00 410TENNECO美国10,982.00410 411LIBERTY MUTUAL INSURANCE GROUP美国10,967.00511 412PENINSULAR&ORIENTAL STEAM NAV英国10,954.50391.3 413KAWASAKI STEEL日本10,941.1070.7 414CANADIAN IMPERIAL BANK OF COMME加拿大10,896.701,000.50 415ASAHI BANK日本10,890.90130.1 416ANHEUSER-BUSCH美国10,883.701,189.90 417KAWASAKI HEAVY INDUSTRIES日本10,869.10200.4 418FUJI HEAVY INDUSTRIES日本10,858.00351.5 419WOOLWORTHS澳大利亚10,854.40177.3 420BANCA NAZIONALE DEL LAVORO意大利10,851.8098.2 421HENKEL德国10,831.30295.7 422SNOW BRAND MILK PRODUCTS日本10,783.1047 423EDEKA ZENTRALE德国10,780.7039.3 424WEST JAPAN RAILWAY日本10,736.00316.4 425METALLGESELLSCHAFT德国10,704.50128.4 426MCDONALD'S美国10,686.501,572.60 427GAZ DE FRANCE法国10,610.10501 428OCCIDENTAL PETROLEUM美国10,557.00668 429DAIWA HOUSE INDUSTRY日本10,549.80376.9 430CSX美国10,536.00855 431MITSUBISHI MATERIALS日本10,535.80130.9 432PUBLIX SUPER MARKETS美国10,526.00265.2 433BANCA COMMERCIALE ITALIANA意大利10,509.00245 434GENERALE BANK比利时10,506.70487.6 435BERKSHIRE HATHAWAY美国10,500.302,488.60 436SEKISUI CHEMICAL日本10,497.20275.5 437SAFEWAY英国10,492.70467.1 438CEA-INDUSTRIE法国10,387.70325.4 439SOUTHERN美国10,358.001,127.00440WASTE MANAGEMENT美国10,321.60192.1 441TRW美国10,310.10480 442CREDITO ITALIANO意大利10,305.50182.7 443FEDERAL EXPRESS美国10,273.60307.8 444BANC ONE CORP.美国10,272.401,426.50 445SUMIKIN BUSSAN日本10,248.70 6.7 446KYOEI LIFE INSURANCE日本10,236.90312.6 447MARRIOTT INTERNATIONAL美国10,172.00306 448HALIFAX BUILDING SOCIETY英国10,170.00848.4 449KYOBO LIFE INSURANCE韩国10,163.301 450KUBOTA日本10,135.40257 451FIRST CHICAGO NBD CORP美国10,117.001,436.00 452BRITISH POST OFFICE英国10,106.40572.7 453AEROSPATIALE法国10,105.50158.7 454BRITISH SPACE英国10,094.20482.5 455GREAT ATLANTIC&PACIFIC TEA美国10,089.0073 456UNITED HEALTHCARE美国10,073.80355.6 457TIME WARNER美国10,064.00191 458OJI PAPER日本10,060.70114.8 459UNION PACIFIC美国10,051.00904 460JOHNSON CONTROLS美国10,009.40234.7 461BERGEN BRUNSWIG美国9,942.7073.5 462NEWS CORP澳大利亚9,935.80774.3 463TOYS"R"US美国9,932.40427.4 464TOSCO美国9,922.60146.3 465NORTHWEST AIRLINES美国9,880.50536.1 466SUN美国9,875.00115 467SKANDIA GROUP瑞典9,860.80170 468CPC INTERNATIONAL美国9,844.30580 469APPLE COMPUTER美国9,833.00816 470CHINESE PETROLEUM台湾9,816.20276.7 471FARMLAND INDUSTRIES美国9,788.60N.A472GEC(GENERAL ELECTRIC CO.)英国9,759.50975.2 473KOMATSU日本9,756.30161.2 474INCHCAPE英国9,738.4035.1 475NIPPON PAPER INDUSTRIES日本9,706.80254.2 476GILLETTE美国9,697.70948.7 477PG&E CORP美国9,610.00755.2 478CABLE&WIRELESS英国9,598.701,074.10 479PACIFIC TELESIS GROUPE美国9,588.001,142.00 480BANKERS TRUST NEW YORK CORP.美国9,565.00612 481BANK OF MONTREAL加拿大9,521.20855.4 482ISHIKAWAJIMA-HARIMA HEAVY INDS.日本9,516.10121.8 483HAVAS法国9,500.50195.5 484NITTETSU SHOJI日本9,462.6017.6 485MITSUI TRUST&BANKING日本9,455.9050.5 486ASDA GROUP英国9,411.60355.6 487WESTINGHOUSE ELECTRIC美国9,401.0030 488KUMAGAI GUMI日本9,399.7065.3489PRINCIPAL FINANCIAL美国9,387.00526 490DEGUSSA德国9,329.30196.8 491GEORGE WESTON加拿大9,320.90175.3 492MITSUKOSHI日本9,296.607.1 493TORAY INDUSTRIES日本9,293.90206.6 494MITSUI MARINE&FIRE INSURANCE日本9,278.3088.3 495TEXTRON美国9,274.00253 496MONSANTO美国9,262.00385 497CHUGOKU ELECTRIC POWER日本9,241.80241.7 498MASS.MUTUAL LIFE INSURANCE美国9,230.00287.9 499FUKOKU MUTUAL LIFE INSURANCE日本9,181.20285 500BANCA MONTE DEI PASCHI DI SIENA意大利9,169.00184.7总计11434819.9404,408.40资产额股东权益雇员人数百万美元百万美元222,142.0023,418.00647,000 262,867.0026,762.00371,702 61,144.505,391.5041,694 77,871.508,864.0035,000 59,179.603,961.306,999 124,373.4063,126.60101,000 60,865.404,134.9065,000 95,527.0043,542.0079,000 43,506.304,500.3026,200 102,417.0045,762.40150,736 39,501.0017,143.00675,000 272,402.0031,125.00239,000 43,647.602,184.1017,497 115,864.5036,997.50230,300 81,132.0021,628.00268,648 80,328.2026,472.30330,152 55,552.0020,295.00130,400 322,759.204,822.0086,695 46,408.0019,072.0043,000 72,331.5016,975.20290,029 55,307.3021,725.9053,150 70,100.0029,792.10270,651 60,823.307,375.20260,811 73,091.6010,432.20186,314 57,310.1015,431.00379,000 56,184.0011,571.00126,000 60,248.1010,931.80135,331 200,361.909,884.7065,836 51,603.502,623.50887,546 54,871.0014,218.00154,000 30,993.308,803.60306,000 70,111.8015,166.20237,865 45,790.7011,764.80163,000 225,977.402,696.5066,953 66,392.904,617.90132,489 37,905.5016,293.80221,144 46,830.2010,195.70186,000 33,787.1011,192.50101,100 47,143.4015,287.8085,400 19,363.20898.811,500 696,477.8023,994.0019,304 46,254.8012,535.40122,110 114,738.5012,049.704,316 26,963.0010,372.0028,957 188,553.702,295.6067,027 30,171.005,876.0033,299 38,687.308,088.40151,966132,978.0032,434.50116,919 93,245.1030,078.4071,612 112,120.5029,203.80201,000 31,585.208,004.10262,500 179,754.806,305.9050,810 219,072.009,788.0083,000 38,111.109,524.30167,000 37,987.0010,709.0097,000 569,906.1019,095.7074,356 49,789.705,346.60132,658 58,857.2016,551.4083,424 34,854.0015,623.0040,820 27,699.0013,438.00112,000 36,167.004,945.00335,000 13,363.402,476.00176,518 42,161.707,212.10140,905 277,528.1019,571.0058,106 27,730.0011,722.00103,000 29,162.605,751.90116,112 477,335.7019,882.2085,240 30,896.005,875.00214,894 16,567.701,219.0018,715 30,204.7011,315.3057,555 11,211.801,625.9011,904 27,727.1010,597.90139,100 45,402.0031,798.0053,206 35,454.709,331.10147,862 134,696.702,297.4044,365 33,096.206,311.00113,353 3,210.0016,408.0041,723 215,258.508,561.6036,695 281,018.0020,722.0089,400 26,064.003,921.5027,827 45,874.306,431.50217,300 28,118.3012,865.70103,406 31,803.4013,248.60142,200 168,861.601,522.6035,083 47,406.007,479.50190,600 24,512.006,623.00486,000 14,286.005,072.00275,000 12,824.70379.712,000 97,247.8010,164.7040,981 23,559.604,783.2033,000 14,578.403,638.00109,300 378,613.2012,446.405,175 87,850.306,901.7040,003 50,544.6014,988.20165,200 43,097.9020,556.30116,178 401,667.1025,787.50102,47039,648.9019,793.30120,470 18,184.501,007.5016,686 3,187.805,283.7088,014 148,431.0022,044.2036,600 24,076.0011,795.0013,900 447,046.2015,219.5019,737 35,160.8010,861.7067,117 133,189.504,681.4020,993 341,396.0013,168.7066,172 389,300.4011,768.4034,821 336,099.0020,994.0067,785 20,757.005,822.00176,481 1,693.10151.6707 36,352.607,183.7088,700 15,165.407,296.4099,887 29,257.006,856.00190,000 16,690.203,246.90122,659 339,996.0010,633.6046,000 96,848.101,256.5036,270 89,447.802,445.302,329 13,389.003,790.00141,700 310,040.505,853.9056,748 5,825.401,181.70160,000 351,041.001,277.303,300 213,016.006,892.0049,800 79,685.509,216.70163,854 11,196.602,255.5083,123 25,937.105,385.1087,500 74,508.0013,452.0048,213 83,356.403,003.1016,343 355,366.2010,607.6052,762 453,133.0015,593.3015,168 62,410.7017,479.4093,879 40,833.5018,111.30127,500 85,680.4038,841.10142,538 22,088.005,952.00205,000 72,096.503,841.5027,797 22,571.508,464.4075,628 16,745.004,306.00173,800 20,544.208,423.2070,330 188,871.0011,983.0043,500 55,557.809,851.7026,265 15,472.104,237.80119,709 485,529.5015,716.8015,563 314,700.6012,823.3071,000 3,127.00864.81,790 441,109.7014,892.9018,733 27,254.0010,941.00143,000 177,194.607,413.7034,403110,073.7085,004.10398,600 14,954.005,901.00336,000 59,528.105,800.2078,624 250,753.0020,713.0078,000 10,792.506,339.9098,440 8,528.301,386.10101,697 20,010.0010,836.0089,300 360,922.909,514.4045,816 151,067.0013,085.0056,200 38,422.007,335.70102,000 11,871.105,981.20103,398 290,719.907,700.8026,734 82,293.501,035.6026,481 16,980.005,022.0042,195 237,862.008,532.503,821 23,735.0016,872.0048,500 30,126.308,741.20121,000 302,797.107,987.8026,349 292,554.0013,737.00201,782 453,797.0014,829.4017,425 250,229.208,615.7082,506 94,532.8010,554.8045,271 8,625.901,555.9047,734 28,252.009,344.0087,000 12,379.502,817.9037,694 37,262.008,383.10288,768 24,673.007,954.0040,289 67,683.008,731.2029,453 21,272.008,609.00285,000 24,393.1011,970.5049,100 315,831.5012,339.4087,400 288,141.908,293.7029,344 4,911.901,777.8039,750 9,341.705,955.2097,912 26,818.005,088.0086,700 49,947.807,611.3021,024 31,273.803,519.40116,000 23,846.805,268.0011,500 32,443.307,686.2076,107 25,715.007,801.0022,800 79,244.004,663.0024,577 32,568.0013,249.0081,241 98,932.007,208.0041,000 74,433.301,465.9021,163 324,756.4016,924.4029,153 16,322.505,887.9093,949 37,306.0016,086.00100,000 7,881.402,535.4012,000 23,122.803,088.3016,00012,602.004,320.00135,300 16,161.006,156.0026,000 22,978.0010,661.0055,285 92,325.406,625.6025,622 14,135.603,404.2081,000 10,525.806,144.0018,863 41,596.80513.814,029 33,736.3019,217.9047,494 15,190.505,332.3092,458 5,415.40995.814,000 24,051.909,042.40111,701 9,951.001,972.7066,226 9,410.801,509.7066,900 20,497.005,668.00110,000 12,457.903,341.50284,889 24,265.903,155.3021,752 259,571.206,405.4021,825 33,941.10568.49,857 185,794.0013,709.0062,971 72,209.304,007.506,940 378,665.502,899.403,000 1,644.80332.73,836 108,512.008,528.0072,299 5,545.201,186.80119,000 14,066.501,254.90289,050 13,138.70938.913,877 31,289.0010,148.0079,700 92,912.9010,889.7038,600 11,426.102,776.9025,126 46,886.40214.120,666 27,084.208,889.2075,250 5,890.401,020.1024,779 21,244.003,738.3038,249 25,187.301,460.2035,405 18,995.705,765.2015,171 19,120.001,439.30101,980 4,283.301,307.4036,514 18,728.004,116.0057,026 16,443.106,458.6019,701 4,055.201,076.0041,200 15,368.606,123.0063,300 19,261.207,711.1081,579 12,455.003,264.20110,200 40,548.4026,613.2089,536 20,298.706,254.0067,827 12,677.0099585,900 13,985.802,033.1034,556 17,383.7010,905.3022,700 7,400.701,548.6099,99111,427.801,813.1069,608 14,438.004,734.0094,800 6,375.701,105.804,517 16,515.807,606.3045,117 222,026.0011,432.0015,527 8,940.402,439.2061,491 41,406.3014,197.4092,148 285,371.20855.911,625 13,548.004,251.0017,200 10,958.402,896.1062,842 267,338.8010,147.8027,490 65,434.202,964.207,933 79,737.705,619.9085,361 7,889.302,550.6033,840 53,637.204,332.60209,746 15,980.603,883.4028,933 171,320.606,446.7023,733 19,579.402,838.3014,658 14,264.104,669.20117,100 224,300.7012,217.1038,848 14,685.006,570.0051,200 218,294.105,644.8018,391 28,123.309,682.3060,000 23,707.007,687.0066,128 14,010.203,835.80115,805 13,178.30727.815,103 16,662.102,570.9065,284 47,233.3030,224.4042,489 15,301.60630.94,900 8,119.501,940.3057,996 22,692.503,960.2041,000 10,075.403,606.2059,100 105,027.506,472.2019,346 46,649.608,160.2028,000 10,131.101,782.8047,174 149,886.604,602.0045,847 13,718.907,887.0056,961 5,465.601,892.20152,744 42,246.6020,021.4032,133 14,550.603,059.20119,780 10,065.004,256.0058,639 13,804.501,344.5091,979 128,596.003,874.007,556 33,740.002,341.0047,354 13,364.006,284.0074,289 16,953.008,519.9048,000 13,944.802,659.0013,849 48,164.707,345.506,939 20,785.306,962.1059,7473,626.60422.910,240 190,018.9011,110.9035,424 12,829.004,180.0076,600 16,530.601,987.9019,046 23,499.006,835.0061,540 13,205.304,908.0056,743 564,038.90376.918,742 8,549.602,434.7057,826 98,974.90N.A4,422 12,022.103,434.1057,999 11,631.003,038.0062,071 86,357.504,750.704,422 47,966.805,953.2025,458 4,714.602,247.0088,000 19,589.102,430.6011,856 18,848.202,984.7031,148 56,691.601,508.0019,330 5,027.00881.194,755 5,172.801,260.8013,300 11,612.104,157.8013,588 27,659.107,059.3068,100 31,164.505,036.0014,730 3,325.401,474.7030,600 83,423.50N.A9,162 8,138.902,807.8013,873 10,449.906,144.8014,811 11,703.904,417.9070,700 16,137.003,723.007,456 17,003.404,861.8059,218 16,370.006,448.9035,400 11,845.704,483.1054,800 6,301.001,462.205,679 196,446.006,538.0011,613 13,449.904,462.4076,800 9,671.803,279.1088,903 24,856.207,422.8062,616 6,356.301,661.4046,833 30,076.102,062.4012,624 14,117.202,080.1053,460 14,668.006,465.5018,302 12,818.003,521.0047,500 9,478.104,143.0050,174 2,648.601,342.3088,000 213,398.502,700.5011,237 19,639.404,365.5049,791 29,542.5015,433.7048,972 40,855.0011,549.0069,286 217,042.605,205.5016,928 10,784.002,622.5035,919231,863.605,813.305,599 5,121.50968.641,221 131,073.706,261.6044,064 10,059.003,650.00111,000 17,524.805,016.2058,269 33,554.905,242.3014,572 6,117.30367.93,247 2,174.501,203.7034,000 108,840.004,520.0021,000 12,226.002,540.0060,289 11,161.507,379.6045,805 20,571.809,250.40139,969 13,604.402,324.6052,900 74,145.207,016.5033,184 11,136.304,598.0075,300 7,269.501,814.5036,100 23,707.001,365.0059,661 122,761.901,127.402,811 40,783.401,290.2021,970 141,080.006,871.4032,107 492.41,001.3039,850 173,866.006,731.003,200 62,680.503,514.703,513 28,800.0012,600.0062,500 162,552.207,021.2048,205 37,296.305,253.2052,503 1,003.403,532.0063,000 3,366.90825.29,006 4,143.001,369.9026,000 18,604.807,733.7028,093 140,127.0010,008.0044,333 11,613.103,036.5014,700 10,376.201,529.906,093 14,462.404,985.4035,900 10,959.005,055.0043,158 3,633.602,043.1064,500 9,360.004,097.0059,927 13,259.903,409.3060,200 12,749.80675.319,730 36,352.50112.614,855 125,911.906,663.5024,262 11,367.506,701.0032,061 14,285.404,095.50200,000 27,493.4011,019.1014,094 137,646.609,920.0047,178 12,403.101,377.90471,782 10,084.003,569.0026,721 12,832.407,750.6050,400 14,584.303,041.2043,636122,162.005,589.006,365 49,763.103,649.4022,543 9,236.801,711.504,808 9,285.504,935.5033,719 14,667.006,954.0046,500 26,188.304,502.201,483 14,652.703,557.2033,919 11,036.004,106.5055,854 210,570.707,459.3019,695 21,628.009,205.003,000 7,365.001,722.8016,968 10,481.005,353.4086,400 150,576.205,899.006,224 5,384.602,255.5043,100 16,005.6010,841.8033,154 13,596.004,604.0039,661 11,629.104,791.9036,573 3,951.701,669.7052,461 11,125.604,820.2052,817 7,587.002,646.0045,000 39,926.005,620.0023,000 10,765.504,438.9061,161 17,318.603,897.7019,607 148,449.406,517.0041,606 239,654.707,936.7013,072 10,463.604,029.1025,123 10,505.201,589.4024,183 6,118.701,207.2018,475 2,447.10894.494,600 112,859.507,530.2025,257 8,646.802,640.9046,665 4,319.101,107.6015,380 2,526.80395.9783 21,524.202,614.0051,943 5,111.80234.623,258 17,386.008,718.20237,000 17,198.802,589.5025,081 17,634.005,140.0014,270 9,237.804,709.0015,064 16,965.004,995.0047,421 13,247.302,479.2029,724 2,921.101,751.20103,000 115,450.005,581.3028,271 173,226.304,023.3027,100 43,409.5023,426.3034,500 7,712.303,459.2019,437 6,132.903,075.1050,358 27,763.903,875.7043,587 30,292.009,216.0029,246。

2016年福布斯世界500强企业排行榜TOP500(完整榜单)

2016年福布斯世界500强企业排行榜TOP500(完整榜单)


德国 法国 中国香港 挪威 美国 英国 加拿大 德国 俄罗斯 瑞士 法国 中国大陆 荷兰 德国 西班牙 沙特阿拉伯 韩国 中国香港 日本 法国 意大利 中国台湾 美国 俄罗斯 墨西哥 美国 中国大陆 加拿大 意大利 中国大陆 日本 瑞典 巴西 美国 英国 中国香港 美国 意大利 瑞士 美国 美国 意大利 印度 中国大陆 中国大陆 瑞士 美国 日本 丹麦 美国 西班牙 印度 英国 加拿大
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慕尼黑再保险/Munich Re 法国兴业银行/Société Générale 中海油/CNOOC 挪威国家石油公司/Statoil 美国运通/American Express 力拓/Rio Tinto 丰业银行/Bank of Nova Scotia 拜耳/Bayer 卢克石油/LukOil 嘉能可国际/Glencore International 法国农业信贷银行/Credit Agricole 中国建筑/China State Construction Engineering 联合利华/Unilever 德意志银行/Deutsche Bank 西班牙毕尔巴鄂比斯开银行/BBVA-Banco Bilbao Vizcaya 沙特基础工业公司/Saudi Basic Industries 现代汽车/Hyundai Motor 和记黄埔/Hutchison Whampoa 瑞穗金融集团/Mizuho Financial 欧洲宇航防务集团/EADS 埃尼集团/Eni 鸿海精密/Hon Hai Precision 斯伦贝谢/Schlumberger 西伯利亚银行/Sberbank 墨西哥美洲电信公司/América Móvil 美国合众银行/US Bancorp 中国神华/China Shenhua Energy 宏利金融集团/Manulife Financial 忠利集团/Generali Group 上汽集团/SAIC Motor 三菱集团/Mitsubishi Corp 北欧联合银行/Nordea Bank 巴西银行/Banco do Brasil 家得宝/Home Depot 葛兰素史克/GlaxoSmithKline 友邦保险集团/AIA Group 卡特彼勒/Caterpillar 意大利联合信贷集团/UniCredit Group 瑞士信贷集团/Credit Suisse Group 陶氏化学/Dow Chemical 第一金融/Capital One Financial 意大利联合圣保罗银行/Intesa Sanpaolo 信实工业/Reliance Industries 中国电信/China Telecom 中国光大银行/China Everbright Bank 瑞士再保险/Swiss Re 菲利普斯66/Phillips 66 日立/Hitachi 穆勒-马士基集团/M?ller-Maersk 二十一世纪福克斯公司/Twenty-First Century Fox, Inc. 伊维尔德罗拉/Iberdrola 印度国家银行/State Bank of India 渣打银行/Standard Chartered 蒙特利尔银行/Bank of Montreal
巴林银行倒闭与兴业银行案

巴林银行倒闭与兴业银行案

巴林银行倒闭与兴业银行案英国巴林银行成立于1762年，最初它是经营棉纱、木材、钻石和矿产的贸易矿，其后逐渐拓展证券业务，至1800年成为英国政府债券的主要包销商，从此它在伦敦金融业占据了领导地位。

倒闭前是英国广大投资银行之一，被视为英国银行界的泰斗。

巴林银行主要从事投资银行业务和证券交易业务，投资银行业务集中在欧洲，证券业务则集中于亚洲及南美，在下属的17个证券公司中，以日本、香港、新加坡及菲律宾的业务为主。

几年来巴林银行在亚洲的业务取得了长足进展，生机勃的亚洲新兴市场给它带来了巨大的机会和财源。

其中在新加坡的分支机构工作尤为出色，负责期货交易的经理尼克·里森当时年仅28岁，因其工作成绩突出，不仅被委任为新加坡巴林期货有限公司的总经理，而且权力极大，几乎不受什么监督。

巴林银行的倒闭，在世界金融界引起了极大的震动。

人们议论分析，探究导致事件发生的原因及应汲取的教训。

其中总结出来的一个重要教训是，巴林银行在内部管理上有问题，银行赋予了里森过大的权力，里森在新加坡独立操作，集操作权，会计权与监督权于一身，银行很难对其进行有效的监督。

而里森既直接从事前台交易，又担任交易负责人——新加坡巴林期货有公司的总经理，这为他逃避监督创造了条件。

里森未经授权从事高达270亿美元的交易，而巴林银行竟未及时发觉，这是银行控制系统的失败。

然而监督巴林银行的英国中央银行未发现巴林银行这个致命的弱点，应当说也是导致巴林事件的一个重要原因。

从上述巴林银行倒闭案中，我们可以发现管理的权力和权限是何等的重要。

企业的生产活动是按照预定的经营目标和经营计划，充分利用人力、物力和财力，从产品品种、质量、数量、成本、交货期等要求出发，生产出社会需要和用户满意的产品的过程，生产管理则是对这一过程进行计划、组织、指挥、协调与控制的活动。

由于生产管理牵涉到众多环节，因而管理的权力与权限就需要有一个把握的尺度，太宽了会引起越权指挥造成混乱，太窄了又会束缚管理者的手脚，使一些活动难以展开。