43 CGCC Member Companies Ranked in the 2021 Fortune Global 500

On August 2nd, 2021, Fortune released its annual Global 500 rankings. Each year, the publication ranks the top 500 corporations worldwide based on revenue. Spanning industries from energy, chemical, construction, manufacturing, aviation, real estate, finance, telecommunication, and IT, this year’s rankings included 43 CGCC members and their parent companies. CGCC sincerely congratulates all of its members and their parent companies on the list for their outstanding achievements in the past year. 

The following CGCC members and their parent companies were included in the top 50 enterprises on the Global 500 list: State Grid, China National Petroleum, Sinopec Group, China State Construction Engineering, Industrial & Commercial Bank of China, China Construction of Bank, Agricultural Bank of China, China Life Insurance, Bank of China, JPMorgan Chase. 

There are 18 new and re-listed Chinese companies in this year’s list, including CGCC member and parent companies: WH Group and China Reinsurance Group.

WH Group (the "Group") is the largest pork company in the world, with leading positions in China, the US and key markets in Europe. Our global platform integrates consolidated pork business chains including hog production, hog slaughtering and processing, packaged meats, as well as distribution of packaged meats and fresh pork, to form a leading competitive advantage in the pork industry. WH Group owns subsidiary companies Smithfield Foods, Inc. (www.smithfieldfoods.com), the biggest pork food company in the US. With our globally renowned brands, WH Group has a rich portfolio of products and a large market network. We also have an unrivaled advantage over our peers thanks to a globally integrated platform that realizes complementary resources and significant synergies. In 2020, WH Group recorded sales of US$25.589 billion.

Reinsurance company China Re ranked among the world’s Fortune 500 for the first time on Aug 2, coming in at number 497 with an operating income of $24.37 billion, ranking fourth among global reinsurance companies. As a major representative of China's reinsurance industry, China Re has put its reinsurance business at its core to actively serve national strategies and continue to focus on high-quality development. For 2020, China Re’s total premium income was 161.57 billion yuan ($24.99 billion), its net profit attributable to the parent company was 5.71 billion yuan, and it had total assets of 453.57 billion yuan.

Affected by the pandemic, the operating income of the 2021 Fortune Global 500 companies is approximately $31.7 trillion US dollars, a decrease of 5% from last year. The threshold (minimum sales revenue) to enter the list has also dropped from$25.4 billion to$24 billion. At the same time, corporate profits have plummeted. The total net profit of all the companies on the list this year is$1.6 trillion, a sharp decrease of 20% compared to the same period last year, the biggest drop since 2009.

This year, Walmart has become the world's largest company for the eighth consecutive year, China's State Grid Corporation has risen to second place, and Amazon has entered the top three for the first time. The number of Chinese companies on this year's list has increased significantly, and their operating indicators exceeded the global average and were close to U.S. companies. 

CGCC sincerely congratulates all of its members and their parent companies listed in the 2021 Global 500. 

For more information on Fortune’s 2021 Global 500 list, visit: https://fortune.com/fortune500/