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Fortune, Chinese companies to outperform the US ones

July 24, 2019


Abstract : The companies turnover of the Asian giant dominate the 2019 ranking. Today they are 129, ten of which are Taiwanese, against 121 from US. Ten years ago there were only 43. The overtaking is the result of the strong dynamism of the Asian economy over the last decade.

MILAN, July 23 (Class Editori) -- Chinese companies outperform American ones. It is reported in the ranking compiled this year by the American magazine Fortune, which compare the largest companies in the world by turnover. In detail, the Chinese companies in the ranking are 129 (including ten from China's Taiwan) against 121 from the US. Ten years ago there were only 43 and twenty years ago just eight.

The overtaking of 2019 is strictly limited, but it is the result of the strong dynamism of the Asian economy in the last decade, which has led Chinese companies, mostly under state control, to experience greater openness to the markets of foreign countries, which are now in crisis due to commercial tensions between the two countries.

A dispute between the two superpowers that since last year has influenced the performance of financial markets, passing from open confrontation phases to others of apparent rapprochement. On the commercial side, however, the war has shifted to the technological one, pushing Beijing and Washington to deal with very sensitive issues, such as national security. With regard to Huawei, the US government started with an open conflict now has a more conciliatory attitude, but another opportunity for discussion will take place on August 19th, when the derogation granted to the Shenzhen telephony giant will expire.

Returning to the Fortune Global 500 ranking, the companies included in this list in 2018 generated a total of 32.7 trillion in turnover and 2.15 billion in profits, employing 69.3 million people.

At the first place there is the global distribution leader, the American Walmart, with a turnover of 514.4 billion dollars, followed by the Chinese oil company Sinopec Group (414.6 billion dollars), by the Dutch group Royal Dutch Shell (396.6 billion dollars), China National Petroleum (393 billion dollars) and China State Grid (387 billion dollars), the world's largest power company. Among the outstanding emerging Chinese companies there is Xiaomi technology, which, just nine years after its foundation, entered the Fortune rankings, ranking 46th.

Among the companies listed on Piazza Affari at 24th place, with a turnover of over 175 billion, there is the holding company Exor of the Agnelli family, which however, having its seat in Amsterdam, must be considered Dutch. An Italian company, Eni, is at the 83rd place, with a turnover of more than 90 billion dollars, followed by Enel (89th with 89 billion in turnover) and Generali (92nd with 88 billion in revenues). More down in the ranking there are also Intesa Sanpaolo, Poste Italiane and Unicredit. (All rights reserved)

(Source: Class Editori)

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Keyword: Chinese companies Fortune Global 500

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