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– This is the scenario of the CNBC report on CCTV in China, Tuesday, July 23, 2019.
In this year's Global Fortune 500 magazine, the first thing that deserves our attention is the collective growth of the world's largest companies. In the new list, the main operational indicators of the world's 500 largest companies improved significantly compared to last year.
Turnover rose 8.9% to nearly $ 32.7 trillion, while earnings rose 14.5% to $ 2.11 trillion, another record. The most profitable of these companies is Saudi Aramco, which ranks at the top of the list with an impressive profit of nearly $ 111 billion, almost double the previous one. 2 apples.
However, the top 500 fortune also showed some solidification.
Walmart is the largest company in the world for the sixth year in a row. With the exception of Saudi Aramco, this year's top 10 companies are almost all well-known companies, with only Warren Buffett's Berkshire Hathaway among the top 10.
On the other hand, some small businesses are more dynamic.
This year, 25 Fortune 500 companies are new and re-registered, including 13 Chinese. Including the National Development Bank, CRRC Group, Tsingshan Holding Group, Jinchuan Group, Zhuhai Gree Electric Appliances, Inc., Anhui Conch Cement Co., Huaxia Insurance Company, Tongling Nonferrous Group , Shanxi coke coal group, Xiaomi, Hailiang Group Limited, China general technology (group) holding co. LTD, Formosa Petrochemical.
For the first time, Chinese companies have surpbaded the United States, counting Hong Kong and Taiwan. It is also a historic change. China has 129 companies on the list, exceeding 121 in the United States. This shows that the two great powers are at odds with each other on the world economic scene.
Meanwhile, Chinese technology companies are breathing new life into the global economy. Xiaomi, the youngest company in the world's top 500, is only nine years old. Country Garden has been particularly successful among Chinese companies, gaining 176 places in 177th place last year
Overall, Chinese companies have been successful in developing their businesses. How could they become stronger would be the next challenge.
At present, compared to the average level of the 500 largest companies in the world, Chinese corporate profit indicators are still relatively low. The gap with US companies is even bigger. On this year's list, the average profit of the world's 500 largest companies is $ 4.3 billion, while the average profit of the Chinese companies on the list is $ 3.5 billion. At the same time, it is also necessary to bridge the gap at the transnational level. However, Chinese companies in the sales profitability and return on equity these two indicators have reversed the downward trend of recent years, the overall trend is good.
Next, we need to see how Chinese companies can be innovation-driven, collectively strong, and become more competitive on a global scale.
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