Meituan and Luxshare Precision enter the Fortune Global 500 for the first time, while Gree drops out of the list.
On August 3, the 2022 Fortune Global 500 list was released. This year, the total operating income of Fortune Global 500 companies is about $37.8 trillion, an increase of 19.2% over the previous year.
In a first, China has surpassed the US in having the most Fortune Global 500 companies.
According to the newly released Fortune 500 list, Xiaomi managed to break through now ranking 468th. Lei Jun, founder of Xiaomi, has previously stated that Xiaomi aims to break into the global Fortune 500 list. Now Xiaomi has achieved this goal.
Here’s this week’s roundup of China tech stories.
Fortune Magazine published on July 19 its annual global list of 500 corporations. This year, 120 Chinese companies made the cut, which makes China a close second to the U.S. with 126 companies.