KUALA LUMPUR: The 2019 edition of the Fortune Global 500 list has been formally released with Wal-Mart, Sinopec, and Shell Oil Company owning the top three spots.
Chinese companies dominated the list, with 129 of them claiming a place, outnumbering their American counterparts (121 entries).
Sinopec, PetroChina and State Grid Corporation of China were the top three Chinese performers,
demonstrating that despite a sluggish global economy, China has maintained stable growth, bolstered by the outstanding achievements of China-based firms.
Five Chinese real estate firms took their places on the list, unchanged year on year, with two companies among the top 200 for the first time.
Country Garden (02007.HK) posted revenue of US$57.3087 billion, representing a year-on-year rise of 70.7 percent.
The firm moved up to 177th place in 2019, up 176 positions since last year as well as the biggest upward move for any single
company on the list.
This year marked Country Garden’s inclusion in the list for the third consecutive year since its first appearance on the list in 2017, a testament to fast improvements in its strength and size.
The Fortune Global 500 companies in the aggregate recorded total operating revenues of US$32.7 trillion, up 8.9 percent year-on-year, while their profit reached a new high at US$2.15 trillion, up 14.5 percent.
The net profit margin climbed to 6.6 percent, while the return on net assets advanced to 12.1 percent.
The Fortune Global 500 is a proven authority in terms of global company rankings based on
operating revenue.
The rankings indicate the latest development trends among the world’s largest companies.
