Beijing has most Fortune 500 global HQs

By Zhang Junmian
0 Comment(s)Print E-mail China.org.cn, July 25, 2014
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Beijing is home to the headquarters of 52 Fortune 500 companies in 2014, the largest number of any city in the world for the second consecutive year, according to the latest Fortune Global 500 list. That is four more headquarters than last year.

The capital city continued to top the list, followed by Tokyo, where 43 companies on the list have their headquarters. New York and Paris shared the third spot with each being home to 18 company headquarters.

Three Chinese companies--China Petrochemical Corporation (Sinopec Group), China National Petroleum Corporation (CNPC) and the State Grid Corporation (State Grid)--were among the top 10, ranking fourth, fifth and seventh, respectively.

Lenovo Group, with revenues of US$38.7 billion in 2013, jumped from number 329 in 2013 to 286 this year. Beijing Automotive Group is number 248 on the overall list, with revenues of US$43.3 billion, up 29.8 percent. Sinopharm Group is ranked 357th, with revenues of US$33.3 billion, up 27 percent.

Notably, the aggregate revenue of the 52 Beijing-based companies reached US$3.96 trillion, up 15.2 percent year-on-year. The figure accounts for 64.9 percent of the total revenue of all Chinese companies on the list.

Ninety-eight of Fortune China's top 500 Chinese companies in 2014 are based in Beijing, followed by Hong Kong (84) and Shanghai (42).

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