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Joining the 500 Club

(Beijing Review)

08:43, August 30, 2012

Cars roll off the production line of Zhejiang Geely Holding Group, a first-time Fortune Global 500 company this year (Photo/Xinhua)

Chinese companies are catching Fortune magazine readers' attention. This year, 79 enterprises from the Chinese mainland, Hong Kong and Taiwan have entered the Fortune Global 500 list, the second largest number behind only the United States with 132.

Li Jin, chief researcher at the China Business Management Academy, said the increase was due to the economic development of China, now the second largest economy in the world, and the proliferation of increasingly profitable businesses.

However, compared with U.S. companies on the list, most of their Chinese counterparts are big but far from strong and face various challenges as they establish their global presence.

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