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In the 2023 Fortune Global 500 list, the performance of Chinese companies is remarkable.
A total of 124 Chinese companies made the list, second only to the United States' 132, accounting for a quarter of the global share.
These Chinese companies cover a wide range of industries, from energy, finance, manufacturing, internet, retail, healthcare, etc., demonstrating the diversification and vitality of China's economy.
But which of these Chinese companies are the most powerful, which are the most profitable, and which are the most potential?
To answer these questions, we need to look at another list: the Fortune China 500 in 2023.
This list is based on the operating income of Chinese companies in 2022, reflecting the strength and competitiveness of Chinese companies in the domestic market.
First, the State Grid is in the first place
At the top of the 2023 Fortune China 500 list is State Grid, a state-owned power company responsible for the transmission and distribution of electricity across most of China.
State Grid's operating income in 2022 reached 2.7 trillion yuan, surpassing the 2.1 trillion yuan of PetroChina, which is in second place.
It also surpassed the 6.5 trillion US dollars (about 41.6 trillion yuan) of Wal-Mart, which ranked first in the world's top 500 list.
With the rapid development of China's economy, population growth, urbanization, and the transformation of industrialization and digitalization, China's demand for electricity is increasing.
According to the National Energy Administration, China's electricity consumption reached 8.3 trillion kWh in 2022, an increase of 6.8% year-on-year, accounting for 28% of global electricity consumption.
As a major supplier to China's electricity market, State Grid has taken on the important task of meeting China's electricity demand.
State Grid has world-leading technologies in power transmission and distribution, especially in UHV and smart grids.
The technical level of the State Grid in these two aspects has reached the world-class level, and even surpassed some developed countries.
The State Grid not only occupies a dominant position in the domestic market, but also actively expands in the international market.
He has participated in some major multinational projects, such as the UHVDC transmission project in Brazil, the UHV AC transmission project in the Philippines, and the Portuguese Power Grid Company.
As the largest enterprise in China, State Grid is also facing some challenges and problems.
Although the State Grid is a state-owned power company, it must also abide by market rules and participate in the reform and competition of the electricity market.
The State Grid should follow the national energy strategy to promote energy transformation and carbon neutrality.
Second, ICBC is the most profitable
In the 2023 Fortune China 500 list, the third place is ICBC.
It is a state-owned commercial bank that provides a variety of financial services such as deposits, loans, settlements, investments, wealth management, etc.
ICBC is the largest commercial bank in China and one of the largest banks in the world.
ICBC has assets of 6.1 trillion yuan, 480 million customers, 250,000 employees, and 25,000 outlets, covering 31 provinces and cities in China and 42 countries and regions.
ICBC's scale and network provide it with a huge market share and competitive advantage, and also create rich revenue sources and profit margins for it.
ICBC is the most profitable company in China and the leader of China's financial enterprises.
It has extensive experience and resources in the provision of financial services and products, and has also achieved significant results and impact in advancing financial development and innovation.
In the future, ICBC will also have to prevent and control financial risks, adapt to financial supervision, and cope with financial competition.
It needs to continuously improve and optimize its own financial system and mechanism to contribute to China's financial stability and prosperity.
3. The rise of Internet companies
In the 2023 Fortune China 500 list, ranking fourth is Alibaba.
It is an e-commerce as the core of the Internet business, providing a variety of Internet services and products, such as Taobao, Tmall, Alipay, Alibaba Cloud, Youku, Ele.me, etc.
Alibaba's operating income in 2022 reached 1.5 trillion yuan, followed by ICBC with 1.8 trillion yuan and Tencent at 1.3 trillion yuan.
Tencent is also an Internet enterprise with social networks as its core, providing a variety of Internet services and products, such as WeChat, QQ, Tencent Video, Tencent Music, Tencent Games, Tencent News, etc.
Alibaba and Tencent are two of China's largest Internet companies, and they also represent the changes and opportunities of China's new economy.
Alibaba and Tencent are two of China's largest Internet companies, and they also represent the changes and opportunities of China's new economy.
They are diversified and democratized in the provision of Internet services and products, and they are also innovative and leading in the advancement of Internet technology.
In the future, Alibaba and Tencent will also abide by and cooperate with Internet regulation, respond to and coordinate Internet competition, and adapt to and lead Internet changes.
It needs to continuously improve and optimize its own Internet system and mechanism to contribute to China's new economic and social development.
epilogue
In short, in the 2023 Fortune China 500 list, Chinese enterprises have shown their advantages and challenges, as well as the changes and opportunities in China's economy.
In the future, Chinese enterprises will also face problems and challenges in the international environment and relations, internal management and governance, market changes and user needs.
It needs to constantly improve and optimize its own development and strategy to contribute to China's economic and social development.
Dear readers, what are your thoughts and opinions on this article?