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The latest Fortune Global 500 list was released simultaneously with the rest of the world on August 5, Beijing time. The total operating revenue of the companies on this year's Fortune Global 500 list 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 US$30.9 billion to US$32.1 billion. The total net profit of all listed companies increased by 2.3% year-on-year to approximately US$2.97 trillion. Except that the total profit of the 500 companies was slightly lower than that of the companies on the list in the previous year (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, the total revenue of 133 Chinese companies on the list in 2023 is about 11 trillion US dollars. It is worth noting that 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 39.1 billion US dollars. The rankings of the other 9 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. These companies are driving Chinese cars, especially electric cars, to the world market.

"This improvement in ranking does mean that the overall landscape of the automotive industry has undergone major changes," said Yuan Shuai, founder of the New Intelligence New Quality Productivity Living Room. This change is mainly reflected in the rise of electric vehicles and intelligent network technology, which has changed the competitive landscape of the traditional fuel vehicle market. New energy vehicle companies have rapidly emerged as a new force in the industry with technological innovation and market demand growth. At the same time, the popularization of intelligent network technology has also promoted the digital transformation and cross-border integration of the automotive industry, bringing new growth points to the development of the industry.

At the same time, among the 128 Chinese (including Hong Kong) companies, excluding 5 new and re-listed companies and 6 companies whose rankings remained unchanged, 46 companies rose in ranking, but 71 companies fell in ranking. The overall ranking of large companies in the Internet field rose. Among the five Internet giants, except for Alibaba, which fell by 2 places, the rankings of JD.com, Tencent and Meituan all rose, and Pinduoduo was listed 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 Group, ranked 47th, entered the top 50 for the first time, replacing Ping An of China as the largest private company in mainland China.

Yuan Shuai believes that from the perspective of the macroeconomic environment, the improvement in the rankings of automobile companies and Internet companies in this Fortune Global 500 is due to the growth in market demand brought about by the global economic recovery and the innovation-driven development strategy that China, as the world's second largest economy, continues to promote. The improvement of the automobile industry is particularly driven by the rapid growth of the electric vehicle market, which is due to technological progress, increased consumer environmental awareness and support from governments of various countries for the new energy vehicle industry. The rise of Internet companies is mainly attributed to the acceleration of digital transformation, the surge in demand for online services, and the continuous exploration and optimization of enterprises in technological innovation and business models.

Yuan Shuai said that compared with other industries, the automotive industry and the Internet industry have significant advantages in economic growth and job creation. As an important part of the manufacturing industry, the automotive industry can drive the development of upstream and downstream industrial chains and create a large number of direct and indirect jobs. At the same time, with the rise of electric vehicles and intelligent network technology, the automotive industry is undergoing profound changes, injecting new impetus into economic growth. The Internet industry, with its high efficiency, flexibility and innovation, plays a key role in promoting the upgrading of the service industry, promoting information consumption, and optimizing resource allocation, becoming a new engine for economic growth.

Beijing Business Daily reporter Jin Chaoli and Wang Qianxue