Economy & Politics

RankingThese are the largest Chinese corporations

When the business magazine “Fortune” first published its list of the 500 best-selling companies in the world in 1990, there was not a single company from China on it. In 2020, the People’s Republic has now conquered the top in the country ranking for the first time and even left the USA behind. According to Fortune, 124 of the 500 largest companies were in China (with Hong Kong, without Taiwan) in the 2019 financial year. That was five more than on the previous list. The US stuck with 121 companies and slipped to second place.

China’s state corporations dominate

China not only impresses with the sheer mass of high-turnover companies. Three of the five largest corporations on the current “Fortune Global 500” list come from China. Only three companies in the Chinese top 10 reported a decline in sales, and only two corporations reported a profit.

For comparison: in the global top list, twice as many companies recorded a decline.

However, this direct comparison between companies from free market economies and China lags. Nine of the ten most successful companies in the People’s Republic are majority-owned by the state.

According to “Fortune”, these are the ten largest companies in China.

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