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The 2024 Fortune Global 500 list was released today (August 5), with a total of 29 private enterprises from mainland China on the list, one more than last year. Among them, there are 6 headquartered in Beijing, Guangdong and Zhejiang, leading all 9 provinces with private enterprises on the list.

This year, a total of 133 Chinese companies made the list, including 5 from Taiwan and 5 from Hong Kong, China, a total of 9 fewer than last year. Private enterprises account for about 21.8% of the total number of Chinese companies on the list.

The reporter of China Business Network found that 29 private enterprises are distributed in nine provinces and cities, including Beijing, Guangdong, Zhejiang, Jiangsu, Shanghai, Sichuan, Hebei, Shandong and Fujian. Among them, Beijing's overall performance is the best, with six companies including JD.com, Minsheng Bank, Taikang Insurance, Meituan, Xiaomi Group and Jianlong Heavy Industry on the list, and it also won two individual championships, "Chinese company with the largest ranking improvement" (Meituan, ranking jumped 83 places) and "China's largest private company" (JD.com, ranked 47th).

In addition, the list classifies Lenovo Group as a Hong Kong, China company based on its place of registration. In fact, its operational headquarters and the headquarters of its controlling shareholder Lenovo Holdings are both in Beijing.

There are six private enterprises in Guangdong Province on the list, including Huawei, Tencent, BYD, Midea Group, SF Express, and Luxshare Precision. Among them, Midea is located in Foshan, Luxshare Precision is located in Dongguan, and the headquarters of the other four are all in Shenzhen. No private enterprises in Guangzhou are on the list.

Shenzhen has a total of 9 companies on the list, including 4 private enterprises, 2 mixed-ownership enterprises (China Ping An, Vanke), 1 central enterprise (China Electronics), 1 local state-owned enterprise (Shenzhen Investment Holdings), and 1 joint-stock bank (China Merchants Bank). Private enterprise Amer International, which ranked 124th on the list last year, fell into operational difficulties and fell out of the list for the first time this year after being on the list for 11 consecutive years.

Five of the six listed companies in Zhejiang Province are headquartered in Hangzhou, namely Alibaba, Zhejiang Rongsheng, Geely Holding, Zhejiang Hengyi and Hailiang Group, and the remaining one is Qingshan Holding, headquartered in Wenzhou. In recent years, Zhejiang Province and Hangzhou have vigorously developed the private economy, and the overall strength of private enterprises is comparable to that of Guangdong Province and Shenzhen, two provinces (cities) with strong private enterprises.

In addition to the three provinces mentioned above, Jiangsu, Shanghai, Sichuan and Hebei each have at least two private enterprises on the list. Among them, the headquarters of the three companies on the list in Jiangsu are all in Suzhou, including Hengli Group, Shenghong Holdings and Shagang Group. The private enterprises on the list in Shanghai are Su Shang Construction and Pinduoduo, of which Pinduoduo is on the list for the first time. Shanghai has another mixed-ownership enterprise on the list, which is Greenland Holdings. The headquarters of the two private enterprises on the list in Sichuan are both located in Chengdu, namely New Hope Holdings and Tongwei Group. The two private enterprises on the list in Hebei are Jingye Group in Shijiazhuang and Delong Steel in Xingtai.

In addition, Shandong and Fujian each have one private enterprise on the list, namely Weiqiao Group in Binzhou, Shandong and Contemporary Amperex Technology Co., Ltd. in Ningde, Fujian. There is also a rather special enterprise on the list in Shandong, Haier Smart Home, which is an A+H listed company and its actual controller is the collectively owned Haier Group.

Among the 15 industries in which Chinese companies are listed, "automobiles and auto parts" performed relatively well, with a total of 10 companies on the list. Among them, among private enterprises, CATL's revenue increased from US$48.8 billion to US$56.6 billion this year after it was listed for the first time last year; BYD's revenue increased from US$63 billion last year to US$85.1 billion, and its ranking rose by 69 places; Geely Holding's revenue also rose by 40 places, from US$60.4 billion to US$70.4 billion.

From the perspective of return on net assets, the overall performance of private enterprises on the list is better than that of other Chinese enterprises. Among the top ten companies in ROE, five are private enterprises, namely Pinduoduo, CATL, BYD, Midea and Luxshare Precision. Among them, Pinduoduo is one of only two Chinese companies among the 50 companies with the highest ROE (the other is the state-owned enterprise Chery Holdings).