Current location:Cultural Compass news portal > entertainment
Chinese companies retain 2nd place on Hurun Top 500
Cultural Compass news portal2024-05-07 12:46:36【entertainment】1People 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://saintlucia.popular-vines.com/news-25a399875.html
Very good!(77)
Related articles
- Liam Gallagher rents swanky £17,000
- Xi Sends Congratulatory Letter to China
- Xi Extends Greetings Ahead of Farmers' Harvest Festival
- Xi Story: President Xi's Sports Aspiration
- How Miami became a sporting powerhouse: Lionel Messi, David Beckham and Tyreek Hill call it home, A
- China overtakes India to become the world's largest gold jewelry consumer in 2023
- China's FAST telescope identifies over 300 pulsars
- China, Zambia to Boost Cooperation as Ties Elevated
- Larrañaga, Kruger, Dunphy and Nolan to be honored with Joe Lapchick Character Award
- China cuts 88 bln yuan in logistics costs in 2017
Popular articles
Recommended
Human remains were found at a former Hitler base, but decay prevents determining the cause of death
New model reveals seabirds' movement may help analyze animal decision
Study links pesticide to breathing problems in children living near farms
Historic image of black hole reveals surrounding magnetic fields
ABC News president Kim Godwin steps down
Tiny tooth
Pioneering zone to be launched in Hunan to propel Sino
China launches new satellite for space environment survey
Links
- Station Provides Family Education Guidance Service
- Women Aerospace Scientists Share Sci
- Women Aerospace Scientists Share Sci
- Providing Heartwarming Services to Children
- NW China's Internet Celebrity City Sees Tourism Boom During Qingming Holiday
- Wuzhou Juyan Tea Industry Booms in E China's Zhejiang
- Providing Heartwarming Services to Children
- Sydney attack victims include a mother who saved her baby, a Chinese grad student and an architect
- China calls for intensified diplomatic efforts to end Ukraine crisis
- College Students in Hebei Send Love, Warmth to Rural Children in Winter Vacation