FAW ranks 130th in 2016 Fortune 500
2016-07-22
According to this year's Fortune 500 list, released on July 20, the number of shortlisted Chinese companies rose to 110, from 106 last year.
Thirteen Chinese companies debuted on the list, including the Beijing-based e-commerce juggernaut JD.com and the country's biggest maker of home appliances, Midea Group. FAW group, a Changchun-based auto manufacturer, ranks 130th on the newly released Fortune 500 list.
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Established in 1953, the Changchun-based FAW Group is China's oldest and largest automotive manufacturer. Now its annual sales exceed two million units globally. [Photo provided to ejilin.gov.cn] |
Out of the top five companies, three are from China: State Grid, China National Petroleum, and Sinopec Group. Due to the global economic slowdown, the total profit made by all Fortune 500 companies was down 11.3 percent, year-on-year, at $1.48 trillion. The threshold to be included on the list was also lowered by 11.8 percent to $20.92 billion in revenue.
