The latest Fortune Global 500 list was published his week. With a record high 129 companies on the list (including 10 from Taiwan), China overtakes the US for the first time. The latter had 121companies on the list.
Three state-owned Chinese companies made it in the top 10—Sinopec Group, China National Petroleum, and State Grid.
Despite the U.S. ban and trade tensions, Huawei rose to 61 from 72 in the past year, becoming the highest ranking tech company in China.
Alibaba Group Holding was the company with the fastest growth rate, jumping from last year’s 300 to today’s 182.
Gree Electric Appliances Inc and Xiaomi Corp were newcomers to this year’s list. Established nine years ago, Xiaomi was the youngest company among the Global 500, ranking 468th on the list.
“Whether the 21st century becomes the Chinese Century in the full sense – with China dominating culture, ideals, and concepts of human rights and human nature – remains to be seen,” Fortune wrote. “But at least in business, the Chinese Century is growing intensely more Chinese, and faster every day.”
Excellent, Xiaomi, the youngest company on the list!
Most of the top-ranking Chinese companies are state-owned. Huawei, the highest ranking private Chinese company only ranks 61st. If China is to become a truly strong country, it has to develop its private companies.
Why does Jingdong rank higher than Alibaba and Tencent?
Most of the Chinese companies on the list are state-owned, when can private companies develop?
Companies from China and The U.S. account for half of the list.
Huawei almost catch up with Microsoft.
It looks like a competition between two superpowers: China and the U.S..