August 7, 2024
BEIJING – China’s State Grid sits at third place with a revenue of $545.95 billion in 2023 on this year’s Fortune Global 500 list, Fortune China reported on Monday.
With high revenues, two Chinese companies, Sinopec Group ($429.7billion) and China National Petroleum Corp ($421.71 billion), took the fifth and sixth spots on the list, respectively, marking three Chinese companies making the top ten list for 2024 Fortune Global 500.
Walmart remains No 1 for the 11th consecutive year with a revenue of $648.13 billion and Amazon returned to become No 2 with a revenue of $574.79 billion on the list.
A total of 133 Chinese companies are on the list, with an aggregate revenue of about $11 trillion for 2023, including 10 automobile and auto parts enterprises.
Chinese automaker Chery made the list for the first time, ranking 385th with $39.1 billion in revenue. BYD’s revenue rose from $63 billion to $85.1 billion this year, with its ranking moving up 69 spots from the previous year.
Three Chinese commercial banks made the top 10 list in terms of profit, namely, Industrial and Commercial Bank of China, China Construction Bank and Agricultural Bank of China, with ICBC making a profit of over $51.4 billion.