BUSINESS 129 Chinese firms on Fortune Global 500

BUSINESS

129 Chinese firms on Fortune Global 500

chinadaily.com.cn

18:18, July 22, 2019

A night view of the Beijing CBD on Sept 9, 2018. (Photo: IC)

Fortune unveiled the 2019 Global 500 list on Monday, with Walmart taking the lead for the sixth consecutive year, followed by China Petrochemical Corp, Shell, China National Petroleum Corp and State Grid Corp of China.

The Fortune Global 500 is a ranking of companies by revenue that has been published annually since 1955 by American multinational business magazine Fortune, headquartered in New York.

A total of 129 Chinese companies are among the Global 500 this year, surpassing the US for the first time, who tally 121.

Compared to last year's list, a total of 25 new companies managed to list - or relist - their names among the 500 this year, with Chinese firms accounting for 13, including China Development Bank, CRRC Co Ltd, Tsingshan Holding Group, Jinchuan Group Co Ltd, Gree Electric Appliances Inc, Anhui Conch Group Co Ltd, Huaxia Life Insurance Co Ltd and Xiaomi Corp.

Chinese leading smartphone maker Xiaomi was set up merely nine years ago, but already has been listed on the Global 500 for the first time this year at 468, making it the youngest firm among the 500.

According to Xiaomi, the company saw a revenue of $26.4 billion last year, a year-on-year growth of 55.9 percent.

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