Current location:Stellar Stream news portal > business
Chinese companies retain 2nd place on Hurun Top 500
Stellar Stream news portal2024-05-09 09:40:03【business】2People have gathered around
IntroductionChina retains its second place among the latest version of Global 500 companies, followed by Japan a
China retains its second place among the latest version of Global 500 companies, followed by Japan and the UK, according to 2023 Hurun Global 500 Report released on Wednesday.
A total of 33 Chinese companies made to the list, led by Taiwan-based TSMC, Tencent and Alibaba, according to the report.
The report revealed that China is home to 6.6 percent of the top 500 companies with 33 entries, led by TSMC worth 3.7 trillion yuan ($512 billion), and Tencent worth 2.8 trillion yuan ($393 billion).
And, 244 non-China multinational companies have set up branch offices in China, with 63 percent headquartered in Shanghai, followed by 27 percent in Beijing, which shows that multinational corporations are positive about China's market performance and growth potential, analysts said.
"The establishment of regional headquarters in China may be to get closer to the Chinese market and understand the needs of local consumers, as well as to leverage China's resources and policy advantages to expand their business. All of this indicates their stable expectations for the Chinese market," Wang Peng, an associate research fellow from the Beijing Academy of Social Science, told the Global Times on Wednesday.
Shanghai-based e-commerce platform Pinduoduo moved up 147 slots to arrive at 63, on the back of stronger than expected sales in domestic market and a successful launch into the U.S. market, the report said.
About one third of the Hurun Global 500 of five years ago have dropped off the list. The worst performer was Alibaba, down by $300 billion in market valuation, according to Rupert Hoogewerf, chairman and chief researcher of Hurun Report.
The average age of Chinese companies on the list is 27 years, much younger than the average 68 years of the whole list. The list of youngest start-ups is led by Pinduoduo, worth $152 billion, ChatGPT parent OpenAI, and Chinese EV Manufacturer Li Auto, which were all launched in 2015.
"For those Chinese companies, they should actively increase investment in the research and application of AI such as intelligent manufacturing, smart finance, and smart healthcare to promote industrial upgrading and efficiency improvement, continuously improving their own strength and market competitiveness," said Wang.
Address of this article:http://lithuania.popular-vines.com/content-81f399863.html
Very good!(9357)
Related articles
- Iowa facility that mistreated residents with intellectual disabilities nears closure
- Iceland violent volcanic flare
- VOX POPULI: Young texters have rendered punctuation marks obsolete
- VOX POPULI: Our anger must never cool over ‘vital’ political fund
- Dramatic moment cruise passenger is airlifted from 1,000ft Carnival Venezia in 'life
- Shi Fu Miz 2023: Hong Kong music & art festival returns to Cheung Chau farm, expands to 3 days
- China's 'core socialist values' daubed on a London wall inspire war of words
- Offering a chair to older colleague at work could count as age discrimination, judge rules
- Michigan man accused of making explosives to target Satanic Temple in Massachusetts
- Hong Kong lawmaker's petition opposing Gay Games is prejudiced, activist says
Popular articles
Recommended
One Extraordinary Photo: AP photographer’s Pulitzer Prize
One dead in Northland crash
Does Donald Trump have presidential immunity?
Chinese hackers breached US ambassador to China's email account
Neighbour, 33, admits killing girl, 11, with poisonous gas used to kill bed bugs
Gay Games Hong Kong unfazed by potential censorship, organiser says
Concorde makes journey along New York's Hudson River
Two US Navy sailors arrested on charges tied to national security and China
Links
- Kremlin says Middle East tensions benefit no one
- Chinese vice president meets Argentine foreign minister
- Jaguars counting on Arkansas' Cam Little to tee up new era following four
- Midea reports 10% revenue increase in Q1
- Rwanda's rebirth
- Pennsylvania nurse who gave patients lethal or possibly lethal insulin doses gets life in prison
- Palestine denounces Israeli settlers' assault on Jordanian aid convoys
- Ricky Stenhouse Jr. signs multiyear extension with JTG Daugherty Racing for NASCAR Cup Series
- Japan PM Kishida sends offering to notorious war
- Climate change poses risk to Ghana's health, food security: report