Fortune 500 Chinese companies surpass the United States



In 2020, the Fortune Global 500 rankings were released. Wal-Mart became the world’s largest company for the seventh consecutive year, Sinopec still ranked second, State Grid rose to third, PetroChina ranked fourth, and Shell Oil dropped to Fifth place. Seven Internet companies are on the list, namely Amazon, Alphabet, and Facebook in the United States, and Jingdong Group, Alibaba Group, Tencent Holdings Co., Ltd. and Xiaomi Group from China. The most noticeable change in this year’s ranking is that the number of companies in Mainland China + Hong Kong has reached 124, surpassing the United States (121 companies) for the first time in history.

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