Caixin
Caixin Global – Latest China News & Headlines

Home >

ABOUT US

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.

TRENDING
In Unusual Move, Huawei Offers ‘No Backdoor’ Deal to India Amid Security Concerns: Report
China Races Ahead of U.S. in Deployment of Electric-Vehicle Charging Stations
Do ‘Double 11’ Vendors Have to Pick Sides This Year? Alibaba Says It’s ‘Normal Market Behavior’
LATEST
Huawei Posts Strong Revenue Growth Despite U.S. Export Ban
Ant Financial Seeks Loan of as Much as $3.5 Billion at Lower Rate
China Freezes Some Social Media, Mobile Payment Accounts in Myanmar Cross-Border Fraud Crackdown
Popular Translation App Youdao Downsizes New York IPO
Popular Alibaba-Backed Social E-Commerce App Returns After Months-Long Absence
Cheap-Phone Maker Realme Eyes Upscale Turn With Pricey New Handset
State Council Order Formalizes Further Opening of Chinese Financial Sector
IMF Predicts Slower Economic Growth for 2019
China Nails Down Timeline for Long-Awaited Mobile Number Portability Program: Report
China Races Ahead of U.S. in Deployment of Electric-Vehicle Charging Stations
Bird Rides Scooter Maker Sees Profit Surge on Overseas Orders
Germany Leaves 5G Door Open to Huawei, Reuters Reports
Cash-Strapped Bike-Sharing App Ofo Says It “Hasn’t Given Up”
Do ‘Double 11’ Vendors Have to Pick Sides This Year? Alibaba Says It’s ‘Normal Market Behavior’
China’s Cloud Computing Market Still Far Behind U.S.: Think Tank
Weather-Forecast App Operator Denied Shenzhen Listing
China’s Wealthy Eastern Regions Report Shrinking Industrial Profits
In Unusual Move, Huawei Offers ‘No Backdoor’ Deal to India Amid Security Concerns: Report
Apple Under Fire for Handing Over Some Web Browsing Data to Tencent
China’s Tencent Resumes Streaming NBA Games
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 JD.com 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