In record, 54 Chinese firms hit Global 500
By Wang Yanlin |
July 10, 2010, Saturday
|
Print Edition
Print Edition
A RECORD 54 Chinese companies are listed on the Fortune Global 500 this year, and three of them nudged into the top 10, a sign of China's growing economic power.
China Petroleum and Chemical Corp, also known as Sinopec, State Grid Corp of China and China National Petroleum Corp earned spots in the top 10.
-`Last year, only Sinopec was ranked that high.
The overall number of Chinese firms on the list increased to 54 from last year's 43, among which are eight from Taiwan -- making China the third largest country for Fortune 500 companies, following only the United States and Japan.
"The new ranking is a good demonstration of China's rapid economic growth," said Sun Lijian, a finance professor at Fudan University. "The global economic gravity has increasingly slanted toward emerging markets, China in particular."
However, the Chinese firms were mostly state-owned enterprises, and a few even reported a negative profit.
The deciding factor of Fortune Global 500 is revenue.
"Chinese companies need to enhance their competitiveness. The scale is one thing, and it should be combined with the ability to make money," Sun said.
The Chinese firms newly listed in the Global 500 include China Datang Group, Huawei Technologies Co Ltd and China Guodian Corp.
Chinese aircraft manufacturer Aviation Industry Corporation of China, or AVIC, which made the list last year for the first time at 426th, leaped to No. 330 this time.
Four Shanghai-based firms appear on the list: Shanghai Automotive Industry Corp, Baosteel Group, China United Network Communications Ltd and the Bank of Communications.
Globally, Wal-Mart Stores returned to the top perch, up from No. 3 in 2009.
It was followed by last year's champion Royal Dutch Shell, while last year's No. 2 Exxon Mobil fell to third.
China Petroleum and Chemical Corp, also known as Sinopec, State Grid Corp of China and China National Petroleum Corp earned spots in the top 10.
-`Last year, only Sinopec was ranked that high.
The overall number of Chinese firms on the list increased to 54 from last year's 43, among which are eight from Taiwan -- making China the third largest country for Fortune 500 companies, following only the United States and Japan.
"The new ranking is a good demonstration of China's rapid economic growth," said Sun Lijian, a finance professor at Fudan University. "The global economic gravity has increasingly slanted toward emerging markets, China in particular."
However, the Chinese firms were mostly state-owned enterprises, and a few even reported a negative profit.
The deciding factor of Fortune Global 500 is revenue.
"Chinese companies need to enhance their competitiveness. The scale is one thing, and it should be combined with the ability to make money," Sun said.
The Chinese firms newly listed in the Global 500 include China Datang Group, Huawei Technologies Co Ltd and China Guodian Corp.
Chinese aircraft manufacturer Aviation Industry Corporation of China, or AVIC, which made the list last year for the first time at 426th, leaped to No. 330 this time.
Four Shanghai-based firms appear on the list: Shanghai Automotive Industry Corp, Baosteel Group, China United Network Communications Ltd and the Bank of Communications.
Globally, Wal-Mart Stores returned to the top perch, up from No. 3 in 2009.
It was followed by last year's champion Royal Dutch Shell, while last year's No. 2 Exxon Mobil fell to third.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 娌狪CP璇侊細娌狪CP澶05050403鍙-1
- |
- 浜掕仈缃戞柊闂讳俊鎭湇鍔¤鍙瘉锛31120180004
- |
- 缃戠粶瑙嗗惉璁稿彲璇侊細0909346
- |
- 骞挎挱鐢佃鑺傜洰鍒朵綔璁稿彲璇侊細娌瓧绗354鍙
- |
- 澧炲肩數淇′笟鍔＄粡钀ヨ鍙瘉锛氭勃B2-20120012
Copyright 漏 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
