Recently, the on 2024 Fortune Global 500 list was announced globally simultaneously.
This year, with the addition of companies from China and Taiwan, there are 133 companies on the list in China, 9 fewer than last year. As a comparison, there are a total of 139 companies on the list in the US this year, an increase of 3 from the previous year, and the number of large companies tops the list of all countries. This is the first time since 2018 that China has fewer companies on the list than the US.
After compilation, there are 5 ship, shipping and offshore related companies among the Chinese companies on the list:
Among them, China National Offshore Oil Corporation (CNOOC) has been on the Fortune 500 list for 18 consecutive years and has been ranked among the top 100 for 10 times.
Hengli Group has advanced into the Fortune 500 for the eighth consecutive year, rising from 123rd last year to 81st this year. The group’s shipyard, Hengli Heavy Industry Group was established in July 2022 with an annual steel processing capacity of 1 million tons, a shipbuilding capacity of 6.3 million DWT, and an annual delivery capacity of 40 ships. In July 2024, Hengli Group announced an additional investment of 9.2 billion yuan for the expansion of its shipbuilding base on Changxing Island in Dalian.
XMXYG CORP. is ranked 187th among the Fortune 500, and its shipyard XMXYG Shipbuilding & Offshore Engineering (XMXYG SOE) was put into operation in May 2017. XMXYG SOE was put into operation in May 2017. Its main products are environmentally friendly and energy-saving series of bulk carriers, oil tankers and container ships under 100,000 tons, small and medium-sized stainless steel/special-painted chemical tankers and other engineering vessels.
China COSCO Shipping Corp. was ranked 267th on the list with revenue of $53.93 billion. China COSCO Shipping has been on the Fortune 500 list for nine consecutive years since its reorganization in 2016.
China State Shipbuilding Corp. (CSSC) has been on the list for 4 consecutive years since its first report after reorganization in 2021. CSSC is an extremely large state-owned key enterprise established in October 2019 by the joint reorganization of the former China Shipbuilding Industry Corporation (CSIC) and the former China State Shipbuilding Corporation Limited in October 2019, with 104 research institutes, enterprise units and listed companies, total assets of RMB 890 billion, 220,000 employees. The Group has the largest shipbuilding and repairing base in China and the most complete research and development capability of ships and supporting products.
