Asia is home to more Fortune Global 500 companies today than any other continent, and Beijing welcomes more global enterprises, Most of any city in the world.
The ultimate scorecard for large companies around the world – The annual list of Fortune Global 500 companies – this year, Asia has written nearly half of it. While the American giant Walmart with an annual turnover of $ 485, 873 has dominated the list for nearly a decade , This year, many Asian cities are home to global companies featured in the list. The presence of many Asian countries as the headquarters of global companies' headquarters means that the center of business gravity is moving towards the east.
Out of 500 global companies, 197 of them are in Asia. And China leads the list with 109 companies on its soil.
Beijing alone counts 57 companies among the 500 largest companies in the world, according to a list compiled by Fortune. Shanghai has nine, Hong Kong seven and Shenzhen has five companies on the world list.
Companies such as State Grid ($ 315.1 billion), Sino Pec ($ 267.5 billion) and China National Petroleum ($ 262.6 billion) are firmly positioned in the second, third and fourth respectively. From the previous list, China has won six other companies this year. Companies such as China Vanke Co., Dalian Wanda Group and Evergrande Real Estate Group made their debut this year. This is proof of China's commercial success.
Japan has 51 world companies, although it lost a company this year in the list. The capital of Japan, Tokyo is home to 37 global companies and the third largest city of Japan, Osaka is home to seven companies.
South Korea has 15 companies on the list and eleven of them are in Soul.
India has seven companies on the list and five of them are in Mumbai. In India, companies like Indian Oil, Reliance Industries, Tata Motors and Rajesh Exports are among the 500 largest companies in the world.
The Taiwanese capital is home to four companies.
Fortune Global 500 is ranked among the top 500 companies in the world compiled on the basis of recent sales and gross business figures. The ranking of companies is done by the total turnover of the previous fiscal year. The trend shows that if companies in the energy sector have experienced a weakness this year by slipping a few points; Most technology companies have taken the initiative in terms of profit and revenue generation.
The companies in the Global 500 have earned a total profit of $ 1.5 trillion which is equivalent to 37% of global GDP.
Author rights: dataLEADS / Asia News Network