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China Now Has More Fortune 500 Companies Than the US — Gu Liping

Summary:
China tops the U.S. in number of companies on Fortune's Global 500 list published on Monday with 129 companies listed, exceeding the U.S., which had 121 companies listed, for the first time since the debut of the list in 1990, and becoming the first country to defeat the U.S. since WWII.  The overall turnover of the top 500 firms reached 32.7 trillion U.S. dollars, 8.9 percent higher over a year earlier. Up 14.5 percent year on year, the gross profit hit a record high at 2.15 trillion U.S. dollars with a net margin of 6.6 percent.... Despite the U.S. ban and trade tensions, Huawei rose to 61 from 72 in the past year, seeing a 22-percent year-on-year increase in sales volume at 109 billion U.S. dollars, and 27.5-percent growth of profits at nine billion U.S. dollars. Aimed at

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China tops the U.S. in number of companies on Fortune's Global 500 list published on Monday with 129 companies listed, exceeding the U.S., which had 121 companies listed, for the first time since the debut of the list in 1990, and becoming the first country to defeat the U.S. since WWII. 
The overall turnover of the top 500 firms reached 32.7 trillion U.S. dollars, 8.9 percent higher over a year earlier. Up 14.5 percent year on year, the gross profit hit a record high at 2.15 trillion U.S. dollars with a net margin of 6.6 percent....
Despite the U.S. ban and trade tensions, Huawei rose to 61 from 72 in the past year, seeing a 22-percent year-on-year increase in sales volume at 109 billion U.S. dollars, and 27.5-percent growth of profits at nine billion U.S. dollars.
Aimed at globalization, Huawei has built its own global value chain with more than one-third of its core suppliers from the United States.
Mike Norman
Mike Norman is an economist and veteran trader whose career has spanned over 30 years on Wall Street. He is a former member and trader on the CME, NYMEX, COMEX and NYFE and he managed money for one of the largest hedge funds and ran a prop trading desk for Credit Suisse.

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