news

한어Русский языкEnglishFrançaisIndonesianSanskrit日本語DeutschPortuguêsΕλληνικάespañolItalianoSuomalainenLatina

Source: Times Finance Author: Comprehensive

On August 5, Fortune China released the latest Fortune Global 500 list.

The total operating revenue of the Fortune Global 500 companies this year is about 41 trillion US dollars, equivalent to one-third of the global GDP, a slight increase of about 0.1% over last year. The overall profits of the 500 companies have returned to the growth track, with total profits approaching 3 trillion US dollars, an increase of 2.3% over the previous year.

Berkshire Hathaway, owned by Warren Buffett, ranked third in this year's profit list with a profit of more than $96.2 billion, earning $260 million (about RMB 1.85 billion) a day. Three Chinese companies entered the top 10 of the profit list, all of which are commercial banks, namely Industrial and Commercial Bank of China, China Construction Bank and Agricultural Bank of China, among which the profit of Industrial and Commercial Bank of China exceeded $51.4 billion.

There are 133 Chinese companies on the list, 9 fewer than last year. The total revenue of the 133 companies on the list in 2023 is about 11 trillion US dollars, a decrease of about 6% compared with the 142 companies on the list last year; the average sales revenue is about 83 billion US dollars, slightly higher than the average of the 500 companies on the list.

Among the 15 fields in which Chinese companies are listed, the development of "automobiles and auto parts" is relatively prominent, with a total of 10 Chinese automobile and auto parts companies entering the 2024 Fortune Global 500.

BYD is the Chinese company that has improved the most in ranking, with revenue increasing from $63 billion last year to $85.1 billion, and its ranking rising by 69 places. After making its debut on the list last year, CATL's revenue increased from $48.8 billion to $56.6 billion this year. Geely's revenue rose by 40 places, from $60.4 billion to $70.4 billion. Chery made its first appearance on the list, ranking 385th with revenue of $39.1 billion. Contributing author Wang Zhile believes that Chinese companies such as BYD and CATL are already world-class companies with considerable competitiveness.

Image source: Tuchong Creative

Major Internet companies are rising overall.

Among the five Internet giants, except for Alibaba, which dropped two places, the rankings of JD.com, Tencent and Meituan all improved, and Pinduoduo made the list for the first time. Benefiting from the recovery of China's Internet industry, Meituan became the Chinese company with the largest ranking improvement in the list, jumping 83 places to 384th. JD.com, ranked 47th, entered the top 50 for the first time, replacing Ping An of China as the largest private company in mainland China.

There are 43 "new and re-listed" companies in the Fortune Global 500 list this time, including 5 Chinese companies, namely Chery Holding Group Co., Ltd., Hangzhou Industrial Investment Group Co., Ltd., Hailiang Group Co., Ltd., Pinduoduo Holdings Co., Ltd., and AIA Group Co., Ltd. Chery, Hangzhou Industrial Investment Group and Pinduoduo are all on the list for the first time.

(Edited by Wang Youwei of Time Weekly, compiled from Fortune FORTUNE)