The number remains the same as last year, with 12 companies headquartered in Shanghai being shortlisted. The 2023 Fortune Global 500 list has been released, with World | Automotive | Enterprises
On August 2nd, Fortune magazine released the latest Fortune Global 500 list. In 2023, a total of 142 Chinese companies were shortlisted for the Fortune Global 500, with the number of large companies continuing to rank first among all countries. Among them, there are a total of 12 enterprises headquartered in Shanghai, which is the same as last year.
The entry threshold for companies on this year's Fortune Global 500 list continues to rise. The total operating revenue of the Fortune 500 companies is about 41 trillion US dollars, an increase of 8.4% from last year, and the entry threshold has also jumped from 28.6 billion US dollars to 30.9 billion US dollars. However, due to the impact of the global economic downturn, the overall net profit of the Fortune 500 companies this year decreased by 6.5% year-on-year, to approximately 2.9 trillion US dollars, indicating a downward trend in profitability.
Among the top five companies, Wal Mart became the world's largest company for the tenth consecutive year, Saudi Aramco rose to the second place for the first time, Chinese enterprise State Grid continued to rank third, Amazon slipped to the fourth place, and PetroChina ranked fifth. The remaining companies in the top 10 are Sinopec, ExxonMobil, Apple, Shell, and United Health.
This year, China still ranks first among all countries in terms of the number of shortlisted companies, but it has decreased by three compared to last year. Profitability remains the weakness of Chinese large enterprises. It is worth noting that in emerging fields such as new energy vehicles, the number of Chinese companies shortlisted has increased, with 9 Chinese automotive companies listed on the 2023 Fortune Global 500 list.
In 2023, the companies headquartered in Shanghai that were shortlisted for the Fortune Global 500 were ranked in order: China Baowu, SAIC Group, COSCO Shipping, Bank of Communications, Pacific Insurance, Greenland Holdings, Shanghai Pudong Development Bank, China Shipbuilding, Suzhou Construction, Shanghai Construction Engineering, Shanghai Pharmaceutical, and Delong Steel Group.