Caixin Global – Latest China News & Headlines

Home >


CX Tech is Caixin Global's real-time tech news portal, featuring 24-hour news, short-form analysis, and roundups from business and tech media in China.

Xiaomi Takes on Apple in Japan With 108-Megapixel Budget Smartphone
Tencent Teams Up with Tech Firms to Build Satellite Network's Liu Quietly Exits Posts at Several Units, but Maintains Shareholder Control
Huawei Wins Telefonica Deal to Help Build German 5G Network
China Unveils First 3D Images From Newest Earth Observation Satellite
Tesla to Raise Prices in China Again, Sources Say
Didi Considered Safest Ride-Hailing Platform Despite Murders, Survey Shows
Risks and Benefits of China’s Private Sector Bailout
Xiaomi Budget Brand Redmi Releases Cheaper Than Expected 5G Smartphone
Major Chinese Freight Line Sees Shipments Fall 8% Amid Slumping Coal Demand
Sales of Chinese-Made Excavators Slow Amid Cooling Infrastructure Investment
BAIC Slump Persists With Bleak November NEV Figures
Shanghai Court Freezes Assets of Wanda Group Founder’s Son Wang Sicong
ByteDance Eyes Another TikTok-Like Success With New Music App
Chinese Cellphone Maker Oppo Expands Smart Hardware Offerings
Velodyne Lidar Cuts Direct Sales Team in China
Chinese Image Providers Shut Down for ‘Illegal’ Work With Foreign News
Alibaba Co-Founder Joe Tsai Invests $10 Million in G2 Esports
Tencent Teams Up with Tech Firms to Build Satellite Network's Liu Quietly Exits Posts at Several Units, but Maintains Shareholder Control
New Campus Harassment Claims Highlight China’s Embattled #MeToo Movement
British Businesses Eye Increased China Investment Despite Concerns, Report Finds
Huawei to Equip More of Its Devices with Its Harmony OS in 2020
Xiaomi, Other Chinese Firms Debut on Fortune Global 500 List

By Tianyu M. Fang / Jul 22, 2019 04:40 PM / Business & Tech

Photo: IC Photo

Photo: IC Photo

Chinese smartphone manufacturer Xiaomi is now officially a Fortune Global 500 company, according to the latest list of the world’s highest grossing companies released Monday.

With revenues of almost $26.5 billion in the last fiscal year — a 56% increase from the year before — Xiaomi sits at number 468 on the list, which is compiled and published annually by Fortune magazine.

Xiaomi joins a number of other Chinese tech companies on the list. Embattled telecoms company Huawei placed 61st, while e-commerce giants and Alibaba came 139th and 182nd, respectively.

Beijing-headquartered Lenovo ranked at No. 212, while Tencent — the creator of China’s all-purpose mobile app WeChat — is at No. 237.

China’s state-owned petroleum behemoth Sinopec Group was the country’s highest entry, placing second behind American retail giant Walmart after increasing revenues by 26.8% to $415 billion. Another state-owned enterprise, the State Grid Corporation of China, came fifth, down from runner-up last year.

Other notable Chinese newcomers to the list include the China Development Bank, rolling-stock manufacturer CRRC Group, Gree Electric, and Huaxia Life Insurance, among others.

A previous version of this article mistakenly attributed the compilation of the Fortune Global 500 list to Forbes magazine.

Related: Xiaomi Beats Forecasts With 27% Revenue Jump in First Quarter

Share this article
Open WeChat and scan the QR code