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China now has the maximum agencies at the Fortune 500 listing

Bycbs editor

Aug 4, 2022

China now has the most companies on the Fortune 500 list

Walmart is the international’s biggest corporation with the aid of using sales for the 9th consecutive yr, and for the seventeenth time considering the fact that Fortune mag started rating agencies with the aid of using length in 1995.

Fortune on Wednesday launched its annual Fortune Global 500 listing, a rating of the biggest and maximum worthwhile organizations worldwide. Saudi Aramco, the sixth-biggest corporation withinside the international with the aid of using sales, is now the globe’s maximum worthwhile corporation, with $one hundred and five billion in earnings, in step with Fortune.

In 2021, corporations of all sizes confronted an uphill climb overcoming economic setbacks precipitated with the aid of using the COVID-19 pandemic. This yr, they face new demanding situations, which includes inflation, looming fears of a recession and Russia’s battle in Ukraine.

“A rebound from the worst depths of the pandemic created a massive tailwind for the international’s biggest agencies with the aid of using sales,” Fortune listing editor Scott DeCarlo stated in a statement. “Aggregate income and income hit report stages in monetary yr 2021 for the Fortune Global 500.”

MoneyWatch
China now has the maximum agencies at the Fortune 500 listing
moneywatch

By Megan Cerullo

August 3, 2022 / 4:18 PM / MoneyWatch

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Walmart is the international’s biggest corporation with the aid of using sales for the 9th consecutive yr, and for the seventeenth time considering the fact that Fortune mag started rating agencies with the aid of using length in 1995.

Fortune on Wednesday launched its annual Fortune Global 500 listing, a rating of the biggest and maximum worthwhile organizations worldwide. Saudi Aramco, the sixth-biggest corporation withinside the international with the aid of using sales, is now the globe’s maximum worthwhile corporation, with $one hundred and five billion in earnings, in step with Fortune.

In 2021, corporations of all sizes confronted an uphill climb overcoming economic setbacks precipitated with the aid of using the COVID-19 pandemic. This yr, they face new demanding situations, which includes inflation, looming fears of a recession and Russia’s battle in Ukraine.

“A rebound from the worst depths of the pandemic created a massive tailwind for the international’s biggest agencies with the aid of using sales,” Fortune listing editor Scott DeCarlo stated in a statement. “Aggregate income and income hit report stages in monetary yr 2021 for the Fortune Global 500.”

Fortune editor-in-leader Alyson Shontell additionally warned of the demanding situations in advance for corporations because the financial system slows.

“For corporations of each length, the actual check might be who can live to tell the tale and thrive in hard situations like these, particularly if — or when — a recession of unknown period and intensity settles in,” she stated.

Walmart, the nation’s biggest retailer, noticed its stocks slide ultimate month after the corporation advised buyers to anticipate decrease income for the relaxation of 2022 as excessive inflation limits consumers’ cappotential to spend on discretionary items, like fixtures and electronics.

China flexes company muscles

China, which includes Hong Kong, had 136 agencies on Fortune’s biggest agencies listing — the maximum of any nation. The U.S. ranked second, with 124, at the same time as Japan turned into 1/3 with 47. And for the primary time withinside the records of the rankings, the mixture sales of indexed agencies primarily based totally in Chinese-speakme nations exceeded that of U.S. agencies at the listing.

The general blended sales of Fortune 500 agencies rose 19% over ultimate yr to $37.eight trillion — the equal of extra than one-1/3 of worldwide GDP. Cumulative income had been up 88% over ultimate yr, achieving a report $3.1 trillion. The indexed agencies have a complete of almost 70 million personnel across the international.

E-trade massive Amazon landed at No. 2 at the listing, with Chinese-kingdom owned electric powered corporation State Grid claiming the 1/3 spot. Tech corporation Apple ranked No.7, and pharmacy chain CVS Health ranked No.10. CVS Health turned into the most effective business enterprise withinside the pinnacle 10 with a lady CEO, Karen Lynch.

Here are the pinnacle 10 agencies in this yr’s Fortune 500 with the aid of using sales (see the entire rankings):

Walmart (U.S.)
Amazon (U.S.)
State Grid (China)
China National Petroleum (China)
Sinopec Group (China)
Saudi Aramco (Saudi Arabia)
Apple (U.S.)
Volkswagen (Germany)
China State Construction Engineering (China)
CVS Health (U.S.)