Current location:Worldly Window news portal > entertainment
Chinese companies retain 2nd place on Hurun Top 500
Worldly Window news portal2024-05-22 02:19:23【entertainment】6People 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://www.camilleandconfettis.com/content-70a899885.html
Very good!(227)
Related articles
- Supreme Court declines to hear challenge to Maryland ban on rifles known as assault weapons
- Dalai Lama’s sister receives award for educating Tibetans in exile — Radio Free Asia
- Don't call them 'sanitary' products! World
- Braves ace Spencer Strider begins recovery from elbow surgery, says team can win World Series
- Sarah Jessica Parker divides opinion with enormous hat on set of And Just Like That
- The prosecution team in Alec Baldwin's 'Rust' trial has a new attorney
- Tulsa athletic director Rick Dickson announces retirement
- Mother of nine
- Britain's new bonkers EV: Callum Skye is an £80k electric buggy built in Warwickshire
- Thai plastics firm will pay $20 million to settle with U.S. over Iran sanctions violations
Popular articles
Recommended
Strictly star Giovanni Pernice's former partner Rose Ayling
Teen fighter pauses near Myawaddy to talk of decision to join resistance — Radio Free Asia
Previewing the 1st round of the NBA playoffs, which start on Saturday
Next UN climate talks are critical to plot aid for poorer nations, says incoming president
Cruise worker 'murders newborn son on board ship': Shocked co
Judge drops some charges against ex
Crews turn sights to removing debris from ship's deck in Baltimore bridge collapse cleanup
Florida law discriminates against Chinese nationals trying to buy homes, attorneys argue
Links
- Scientific herding improves yield, environment
- Renowned Berliner Philharmoniker to perform at Shanghai's art festival
- China's Chen/Jia into 4th women's doubles final at badminton worlds
- New farmers sow seeds of hope for modern farming
- Hangzhou ready to host smart Asian Games
- World's first Zootopia land opens at Shanghai Disney Resort
- China launches new remote sensing satellite
- Chess Preview: China's world champion Ding seeking first Asian Games gold
- Shanghai sculpture show sees Rodin, Sanxingdui in dialogue
- Int'l plum blossom festival kicks off in Nanjing