news

한어Русский языкEnglishFrançaisIndonesianSanskrit日本語DeutschPortuguêsΕλληνικάespañolItalianoSuomalainenLatina

China News Service, August 5th, "Fortune FORTUNE" WeChat account reported on the 5th that the 2024 Fortune Global 500 list was announced. Walmart has topped the list for 11 consecutive years, and State Grid, Sinopec, and PetroChina are among the top ten.

The list shows that the total operating revenue of the companies on the Fortune Global 500 list 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 threshold for this list (minimum sales revenue) has increased from 30.9 billion US dollars to 32.1 billion US dollars. The total net profit of all listed companies increased by 2.3% year-on-year to about 2.97 trillion US dollars. In addition to the total profit of the 500 companies being slightly lower than that of the companies on the list in 2022, other indicators, including total assets, total net assets and total number of employees, have reached the highest peak since the establishment of the Fortune Global 500 list.

This year, including companies in Taiwan, China has a total of 133 companies on the list, 9 fewer than last year. The United States has a total of 139 companies on the list this year, 3 more than last year, and the number of large companies ranks first among all countries.

Japan ranks third in the number of companies on the list. The country has 40 companies on the list, down one, continuing its downward trend. When the Fortune Global 500 debuted in 1990, Japan had as many as 149 companies on the list. Today, the United States, China and Japan together contribute about two-thirds of the companies, revenues and profits on the list.

　　State Grid and three other Chinese companies ranked in the top ten

The list shows that Walmart has been the world's largest company for the eleventh consecutive year. Amazon returned to second place. China's State Grid Corporation continued to rank third. Saudi Aramco and Sinopec ranked fourth and fifth respectively. PetroChina ranked sixth.

This year, the total revenue of the 133 Chinese companies on the list in 2023 is approximately US$11 trillion, a decrease of approximately 6% compared with the 142 companies on the list last year.

Among the 15 fields in which Chinese companies are listed, the development of "automobiles and auto parts" is more prominent. A total of 10 Chinese automobile and auto parts companies have entered the Fortune Global 500 in 2024. Among these 10 companies, Chery is on the list for the first time, ranking 385th with a revenue of US$39.1 billion. The rankings of the other nine companies have mostly risen year-on-year.

Last year, BYD was the Chinese company that improved the most in ranking. This year, the company's revenue increased from $63 billion to $85.1 billion, and its ranking rose by 69 places compared to last year. Meanwhile, CATL's revenue increased from $48.8 billion to $56.6 billion after it made its debut on the list last year. Geely's revenue also rose by 40 places, from $60.4 billion to $70.4 billion.

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

　　Saudi Aramco retains top spot on list of most profitable companies

In 2023, the total profit of the world's top 500 companies will be close to 3 trillion US dollars, an increase of 2.3% over the previous year. Although Saudi Aramco's profit fell by about 24% year-on-year, it still topped the profit list with a profit of about 120.7 billion US dollars; three American technology companies - Apple, Google's parent company Alphabet and Microsoft ranked second, fourth and fifth respectively in the most profitable companies (profit list).

Berkshire Hathaway, which suffered the largest loss on last year's Fortune 500 list, ranked third on this year's profit list with a profit of more than US$96.2 billion.

Three Chinese companies made it into the top ten 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 them, ICBC's profit exceeded US$51.4 billion.

Source: WeChat ID of “Fortune”

(China News Service APP)