On July 27, the latest Fortune China 500 list was officially released.

(Photo via Zhejiang News)

The annual revenue of listed companies this year is close to 17.8 billion yuan, nearly 10% higher than that of last year. Special as this year is, it still witnesses the income of the 500 listed companies accounts for half of China's GDP.

38 Zhejiang enterprises, including Alibaba, Wuchan Zhongda Group, and Geely, were listed in this year's list. Compared with last year, the total number of Zhejiang enterprises increased, and the ranking also improved. In fact, apart from these 38 seats, the "king of African smartphones" - Shenzhen Transsion, Yunda, and Zhongtong Express are all founded by Zhejiang businessmen.

Competitive Zhejiang manufacturing industry

The Fortune China 500 list covers all Chinese companies at home and abroad, taking into account the performance and achievements of the world's largest Chinese Listed Companies in the past year. The top three listed this year has not changed: Sinopec, PetroChina, and CSCEC.

Economist Song Qinghui believes this means that traditional industries still have super profitability.

Similar to the situation in the general list, the top five places of Zhejiang enterprises remain the same: Alibaba, Wuchan Zhongda Group, Geely, RiseSun, and Hengyi.

With revenue of 40.614 billion yuan, Tianneng, headquartered in Changxing, ranked 246 in the list, jumping 9 places from the previous year's ranking, the first in the battery industry. This is also Tianneng's eight consecutive years on the Fortune China 500 list.

(Photo via Zhejiang News)

Compared with last year, there are 18 Chinese enterprises that have improved in the ranking such as Alibaba, Wuchan Zhongda, and Tianneng, more than half of the Chinese companies listed.

Despite the affection of the epidemic, Zhejiang enterprises still maintain the momentum of growth, which fully reflects the vitality and resilience of Zhejiang enterprises.

"The reason why GDP in Zhejiang turns into a ‘V’ shape in the first half of the year is that industry has played a great role." Lan Jianping, President of Zhejiang Institute of Industry and Information Technology, regards the manufacturing industry as the cornerstone of Zhejiang's economic recovery in the first half of the year, which is proved by the Fortune 500 list.

Trendy "new economy" led by Alibaba

Although overtaken by JD, chased by Pinduoduo, Alibaba, which ranked 18th on the list, is still the brightest one.

Alibaba specializes in both the new economy represented by e-commerce and live broadcasting and the new infrastructure.

On July 15, the new business modes supporting online and offline integration are advocated in China as an important breakthrough in economic transformation and promoting reform and innovation. Thus, new formats such as e-commerce live broadcasting and internet medical treatment usher in new opportunities for development.

(Photo via Zhejiang News)

According to iiMedia Research, the total value of China's live e-commerce industry reached 433.8 billion yuan in 2019. As one of the most popular emerging business models, live e-commerce has been developing continuously during the epidemic period.

It is gratifying that four new candidates stand out in this year's Fortune 500 list. They are Zhejiang Semir Clothing Co., Ltd., Zhejiang Huayou Cobalt Co., Ltd., Ningbo Construction Co., Ltd. and Ningbo Jifeng Co., Ltd.

(Photo via Zhejiang News)

Meanwhile, however, Haiyue Energy Group Co., Ltd., Qihe Environmental Protection Group Co., Ltd., and Xinhu Zhongbao Co., Ltd. were squeezed out of this year's list.

Besides, there is a slight regret in the pharmaceutical sector.

(Photo via Zhejiang News)

Under the epidemic situation, the biomedical industry has encountered significant development opportunities. It is worth noting that there are 19 pharmaceutical enterprises in the list, among which China Pharmaceutical Holdings, Shanghai Pharmaceutical, China Resources Pharmaceutical, and JoinTown Pharmaceutical Group are among the top 100. However, it is a little pity that only two Zhejiang enterprises Huadong Pharmaceutical (No.273) and Inter Group (No.371) are on the list.

Several competitive Zhejiang enterprises like "Taizhou pharmaceutical plate" just missed the opportunities.

(Compiled and translated by Xu Yuhong)