Chinese companies take the lead in Fortune magazine's Global 500 list

2022-08-03 Editor:Li Yan

Business magazine Fortune released its latest Global 500 list on Wednesday, with 145 Chinese companies taking places.

The number of Chinese companies ranked first among the world, 21 more companies than the United States' figure.

The total revenue of the Global 500 hit $37.8 trillion this year, increasing 19.2 percent year-on-year, and the threshold to enter the list jumped to $28.6 billion from $24 billion.

Moreover, the total net profits of the Global 500 reached $3.1 trillion, surging 88 percent from a year earlier, the biggest growth since 2004.

Chinese companies' revenue accounted for 31 percent of the total, and the figure of US companies is 30 percent.

The average profits of the 145 Chinese companies are $4.1 billion, lower than the figure of global 500's $6.2 billion.

The top 10 companies are Walmart with a revenue of $572.75 billion, Amazon ($469.82 billion), State Grid ($460.63 billion), China National Petroleum ($411.69 billion), Sinopec Group ($401.31 billion), Saudi Aramco ($400.4billion), Apple ($365.82 billion), Volkswagen ($295.82 billion), China State Construction Engineering ($293.71 billion) and CVS Health ($292.11 billion).

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