JD.com Tops the Fortune 500 List of Chinese Internet Companies
Despite all the trouble that JD CEO Liu Qiangdong got himself into last year, his company, although expected to come to naught (JD’s stock price fell by 40%), has prospered. Obviously, that does not refer to every aspect of every project, but overall figures present an impressive achievement. With a yearly operating income of 462 billion yuan, JD made it to the very apex of the Internet and technology section of the Chinese Fortune 500 list.
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Trailing behind JD are its arch enemy Alibaba and the tech behemoth Tencent with an income of roughly 345 and 312 billion yuan respectively. The total operating income of the 500 listed companies in China this year reached 45.5 trillion yuan, a year-on-year increase of 14.8 percent. Their net profit climbed to 3.625 trillion yuan, an increase of 4.21 percent over last year.
The new economic sector, consisting of electronics, Internet services and computer-related industries, continues its whirlwind growth trend. The number of companies on this year’s list shot up to 37, and the revenue of the sector increased by 29 percent.