2025 Fortune Global 500 Released: 130 Chinese Companies Make the List

On July 29, the Fortune Global 500 list for 2025 was officially unveiled, with Walmart maintaining its top rank for the twelfth straight year. Amazon secured second place, followed by China’s State Grid Corporation in third. Saudi Aramco and PetroChina rounded out the top five, occupying fourth and fifth positions respectively.

This year’s listed companies collectively generated USD 41.7 trillion in revenue, representing over one-third of global GDP and reflecting a 1.8% increase from the previous year. The minimum revenue required for inclusion rose to USD 32.2 billion. Net profit across all companies reached approximately USD 2.98 trillion, marking a 0.4% annual increase. Both total assets and net assets reached unprecedented highs since the ranking began, although workforce numbers declined overall.

China contributed 130 companies to the list. In 2024, these businesses amassed a total revenue of around USD 10.7 trillion, with an average sales figure of USD 8.2 billion. Firms from mainland China and Hong Kong achieved an average net profit of USD 4.2 billion.

Ten enterprises from China’s automotive and components sector made the rankings. Among them, Chery experienced a revenue increase of USD 20.6 billion compared to the previous year, reaching RMB 59.7 billion and ascending 152 positions to 233rd. BYD rose 52 places to 91st, marking its debut in the top 100. Geely moved up 30 spots, attaining a revenue of USD 79.9 billion. Fortune reported that these firms continue to drive the global growth of China’s automotive sector, particularly in electric vehicle production.

The five dominant Chinese internet firms—JD.com, Alibaba, Tencent, Pinduoduo, and Meituan—all improved their standings. Pinduoduo, appearing on the list for the second time, showed the largest rise among Chinese entries, jumping 176 places to land at 266th. Meituan advanced 57 positions to 327th, while JD.com moved up three spots to 44th.

Twenty-five companies joined or reentered the rankings, including five Chinese firms: Shandong Gold, Wistron Group, New China Life Insurance, Genertec, and Country Garden. Shandong Gold debuted at 465th. The highest-ranked new entry overall was Germany’s REWE Group, entering at position 112.

In the Return on Equity (ROE) category, Cencora led the pack with a rate exceeding 233%, trailed by Home Depot at roughly 223%. Apple and AbbVie also ranked highly. Pinduoduo represented China in the top 50 ROE performers with a rate above 36%, placing 25th. Other leading Chinese companies in ROE included PDD Holdings, Taiwan Semiconductor Manufacturing Company, Quanta Computer, Zijin Mining Group, Lenovo Group, BYD, Meituan, CATL, Tencent Holdings, and Chery Holding.

As for profit margins, Nvidia stood out with a net figure surpassing 55%, leading the rankings. The semiconductor and electronics segment secured three of the top ten positions, with Taiwan Semiconductor Manufacturing Company in third and SK Hynix in eighth. Tencent Holdings and China Merchants Bank came in at ninth and tenth, respectively.