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Chinese firms continue to dominate this year's Fortune Global 500 list released Wednesday.
A total of 142 Chinese companies made it on the list, marking the fifth consecutive year when the number of Chinese firms surpassed those from the United States.
U.S. retailer Walmart maintained its top position on this year's list. Runner-up was Saudi Aramco, which benefited from a surge in energy prices. Among Chinese companies in the top ten, China's State Grid, China National Petroleum, and Sinopec placed third, fifth, and sixth, respectively.
Fortune Global 500 Top 10 screen capture, August 2, 2023. /Fortune.com
Notably, nine Chinese automakers ranked on the list. BYD and Contemporary Amperex Technology jumped into the top 300, supported by their technological innovation and breakthroughs in new energy vehicles.
In terms of overall performance, the 500 companies featured collectively generated $41 trillion in revenue last year, representing over one-third of world GDP and an 8.4-percent increase from the year before. However, cumulative profits experienced a decline of 6.5 percent, impacted by global economic headwinds.
(Cover via CFP)
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Disinformation report hotline: 010-85061466