An outline of the 12 top Chinese firms ranked on the benchmark annual list ‘Fortune Global 500’ in 2016.
According to the most recent update of this list, 110 Chinese companies (incl. Taiwan) have entered the 2016 Fortune Global 500, rising from 106 last year. Among the top is Wal-Mart Stores Inc. along with three Chinese companies; State Grid Corp of China, China National Petroleum Corp and Sinopec Group. The Fortune Global 500 annually ranks the 500 largest companies worldwide in terms of total revenue. This year, 12 Chinese companies entered the ranking, we now present all of them (please see the chart below).
The Top Chinese Firms
Almost closing the Fortune Global 500 of 2016, we can find Evergrande Real Estate Group Ltd, the second largest real estate company in China, based in Guangzhou in the Guangdong province, with a revenue of $21.18 billion.
At rank number 495 comes the food consumer products company WH Group Ltd (known as Shuanghui International Holdings Limited till January 2014), based in Hong Kong, with a revenue of $21.21 billion.
Then comes Midea Group Co at 481, based in Foshan, Guangdong province, with a revenue of $22.17. Midea Group Co is an electrical appliance manufacturer.
CK Hutchison Holdings Ltd., the specialty retailer, is ranked 473th with $22.72 billion.
New China Life Insurance Co Ltd, comes in at 427th, the insurance company recorded a revenue of $25.13 billion.
The aerospace and defense company China Electronics Technology Group is ranked at 408th with a revenue of $26.41 billion.
Then we have China Aerospace Science & Industry Corp, specialized in the aerospace and defense sectors, ranked 381th with a revenue of $27.87 billion.
China Vanke Co Ltd., based in Shenzhen, Guangdong province, is ranked 356th. It is a real estate company and its recorded revenue is $29.33 billion.
The two best positions out of the top 12 Chinese firms that entered the Fortune Global 500 benchmark annual ranking list are occupied by two industrial machinery companies both based in Beijing. Ranking 349th is the China State Shipbuilding Corp with a reported revenue of $30.19 billion. Then far ahead of the latter, we have the CRRC Corp Ltd (Chinese Railway Rolling Stock Corporation). Standing at 266th position, the railway company has a reported revenue of $37.84 billion.
In comparison the top 5 of the Fortune Global 500 (2016) is occupied by 3 Chinese companies following in the footsteps of American retail store giant Wal-Mart. Wal-Mart has a reported revenue of $ 482.1 billion, second is State Grid Corp’s revenue at $ 329.6 billion, China National Petroleum standing at third position has a revenue of $299.3 and the second largest Chinese petroleum company Sinopec follows closely with a revenue of $ 294.3 billion. The fifth place occupied by Royal Dutch Shell that heralds from the Netherlands, with $ 272.2 billion.