On Aug. 10, Fortune magazine released on its official app the Fortune Global 500 list for 2020. Suzhou’s Hengli Group, Shagang Group and Shenghong Holding Group made the list.
Shenghong Holding Group, headquartered in Shengze town, Wujiang District, joined the list for the first time, ranking 455th with an operating revenue of 27,869.6 million US dollars and a profit of 486.5 million US dollars. Hengli Group came in 107th, up 74 places from last year, and Shagang Group ranked 351st.
The Fortune Global 500 list has always been regarded as the most famous and authoritative yardstick for major global companies. It is released annually by Fortune magazine.
This year, the total operating revenues of the Global 500 corporations reached a record high of 33 trillion US dollars, close to the combined GDP of China and the United States. The minimum threshold for the 2020 Global 500 was 25.4 billion US dollars, an increase of 600 million US dollars from last year.
China has 133 companies that made this year’s Fortune Global 500 list, surpassing the United States for the first time. The country saw 8 new firms included on the list, namely Shanghai Construction Group, Shenzhen Investment Holdings, Shenghong Holding Group, Shandong Iron & Steel Group, Shanghai Pharmaceuticals Holding, Guangxi Investment Group, China National Nuclear, and China National Coal Group. Among them, Shenghong Holding Group is the only private company.
