China, including Hong Kong, occupies 346 spots in the 2023 Forbes Global2000 ranking of the world’s top publicly traded companies. Big state-controlled banks led the way for China again this year, grabbing three of the top five spots on the list.
Global 2000 ranking of the world’s top publicly traded companies unveiled Thursday. That is five fewer than last year’s record 351 members from the country.
Big state-controlled banks led the way for China again this year, grabbing three of the top five spots on the list. The highest-ranking Chinese company, the Industrial and Commercial Bank of China, came in at No. 3, slipping one spot from No. 2 last year. Prior to 2022, the bank had the No. 1 spot on the list for nine consecutive years.
China’s auto industry – which took over as the world’s top car exporter earlier this year — chalked up some of the country’s biggest gains, notably in the electric vehicle supply chain. Contemporary Amperex Technology, the world’s largest supplier of batteries for electric cars, rose to No. 121 from No. 298 last year. BYD, the country’s biggest EV maker, jumped to No. 170 from No. 580. Among other EV manufacturers, Geely Automobile climbed to No. 858 from No. 989. Li Auto rose to 1,691 from No.
In contrast, China’s iconic Internet giants faced a tech crackdown by the government and a difficult advertising market. Tencent, the highest-ranking Chinese Internet company to make this year’s list, fell to No. 33 from No. 28 last year. Alibaba, the e-commerce leader, dropped to No. 54 from No. 33 mostly due to a decline in profits. Two other e-commerce giants did better: JD.com rose to No. 224 from No. 446, lifted by net income that swelled to $1.
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