More Chinese firms in Fortune 500: Number rises to 110 from 106 last year

[TaiShang]

Just remember. The number was 69 in 2011. 72 in 2013. Feels like a century ago.

China speed.

The new normal.

***

More Chinese firms in Fortune 500
July 21, 2016

Despite slowing economic growth in China, more Chinese companies have climbed onto the famed Fortune 500 list.

According to this year's list, released on Wednesday, the number of shortlisted Chinese companies rose to 110, from 106 last year.

As many as 13 Chinese companies have debuted on the list, including the Beijing-based e-commerce juggernaut JD.com and the country’s biggest maker of home appliances, Midea Group.

US retail giant Wal-Mart Stores Inc retained top spot, with its revenue dropping only slightly by 0.7 percent year-on-year.

Out of the top five companies, three are from China: State Grid, China National Petroleum and Sinopec Group.

Due to the global economic slowdown, the total profit made by all Fortune 500 companies was down 11.3 percent, year-on-year, at $1.48 trillion. The threshold included on the list was also lowered by 11.8 percent to $20.92 billion in revenue.

@AndrewJin , @cirr , @Beidou2020

 

[Beidou2020]

Do you know the breakdown between the SOE and private companies?

 

[TaiShang]

Do you know the breakdown between the SOE and private companies?

I am not aware of a breakdown list. Perhaps @cirr will have a better data.

 

[empirefighter]

Big progress，but still a long way. USA is ahead and its big companies are very powerful，and Japan、Germany 、SK 、 Dutchland also have some very competitive companies，we are still far behind，the gap is large， keep moving forward.

 

[AndrewJin]

Need more, now lack in a lot of sectors

 

[greenwood]

Big progress，but still a long way. USA is ahead and its big companies are very powerful，and Japan、Germany 、SK 、 Dutchland also have some very competitive companies，we are still far behind，the gap is large， keep moving forward.

We fill 1/5 of top 500, you still say we are far behind. What you want? All top500 ours is impossible.

 

[Jlaw]

Do you know the breakdown between the SOE and private companies?

I think the top 10 are all SOE. Properly run SOE is better than POE as they can get the difficult overseas contract by making the other government "a deal they can't refuse." POE are not military backed so those pussies will be push around by foreign governments and not get the contracts.