China hosts most global companies in Asia
Asia is home to more Fortune Global 500 companies today than any other continent, and Beijing hosts more global companies, the most of any city in the world.
The ultimate score card for the big businesses around the world -- The Annual list of Fortune Global 500 companies -- this year has Asia written over almost a half of it. While the US retail giant Walmart with the annual revenue of $485, 873 has dominated the list for almost a decade, this year many Asian cities home to global companies are in the list. The presence of many Asian countries as the seat of headquarters of global companies signifies that the centre of business gravity is shifting eastwards.
For all latest news, follow The Daily Star's Google News channel. Out of 500 global companies, 197 of them are in Asia. And China leads the list with 109 companies on its soil.
Beijing alone has 57 companies which are among the world's 500 largest companies, according to a list compiled by Fortune. Shanghai has nine, Hong Kong seven and Shenzhen has five companies on the global list.
Companies like State Grid ($315.1bn), Sino Pec group ($267.5 bn) and China National Petroleum ($ 262.6bn) are firmly positioned at number two, three and four respectively. From the previous list, China has gained six more companies this year. Companies like China Vanke Co., Dalian Wanda Group and Evergrande Real Estate Group have made their debut this year. This is an evidence of China's business success.
Japan is home to 51 global companies although it has lost one company this year in the list. Japan's capital, Tokyo is home to 37 global companies and Japan's third largest city 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 world's 500 largest companies.
Taiwan's capital city is home to four companies.
The Fortune Global 500 is a ranking of the top 500 companies in the world compiled on the basis of latest sales and gross revenue figures. The ranking of companies is done by the total revenue for the preceding fiscal year. The trend shows that while the companies in the energy sector have shown a weakness this year by sliding a few spots; most of the technology companies have taken a lead in terms of both in terms of profit and revenue generation.
The Companies in the Global 500 earned a total of $ 1.5 trillion in profit that is equal to 37% Global GDP.
Copyright: dataLEADS/ Asia News Network
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