Tuesday, August 13, 2019

China Now Has More Fortune 500 Companies Than the US — Gu Liping

China tops the U.S. in number of companies on Fortune's Global 500 list published on Monday with 129 companies listed, exceeding the U.S., which had 121 companies listed, for the first time since the debut of the list in 1990, and becoming the first country to defeat the U.S. since WWII. 
The overall turnover of the top 500 firms reached 32.7 trillion U.S. dollars, 8.9 percent higher over a year earlier. Up 14.5 percent year on year, the gross profit hit a record high at 2.15 trillion U.S. dollars with a net margin of 6.6 percent....
Despite the U.S. ban and trade tensions, Huawei rose to 61 from 72 in the past year, seeing a 22-percent year-on-year increase in sales volume at 109 billion U.S. dollars, and 27.5-percent growth of profits at nine billion U.S. dollars.
Aimed at globalization, Huawei has built its own global value chain with more than one-third of its core suppliers from the United States.

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