Three Xiamen enterprises climb the ranks on Fortune Global 500 list
Three Xiamen enterprises — Xiamen C&D Group, Xiamen ITG Holding Group, and XMXYG — made the latest Fortune Global 500 list for 2023 that released on Aug 2.
All three companies rose in rank compared with the previous year.
Xiamen C&D Group was ranked 69th, climbing eight places compared to last year's ranking. Xiamen ITG Holding Group was ranked 95th, rising 11 places and making its first foray into the top 100. XMXYG took the 142nd spot, 18 places higher than the previous year.
Xiamen C&D Group and Xiamen ITG Holding Group have been listed for seven consecutive years. This is XMXYG's sixth straight year on the list.
All three enterprises are leaders in the supply chain service industry.
The total revenue of companies on the Fortune Global 500 list was approximately $41 trillion in 2023, an increase of 8.4 percent over last year. This year's list contained 142 Chinese companies, the most out of all nations.
A view of Xiamen C&D Group. [Photo/Xiamen Daily]
A view of Xiamen ITG Holding Group. [Photo/Xiamen Daily]
A view of XMXYG. [Photo/Xiamen Daily]
Why Xiamen
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Xiamen is one of the most economically competitive cities in China and was one of the first Special Economic Zones on the Chinese mainland. As a vice-provincial city independently listed on the State development plan, it has provincial-level authority in economic administration and local legislative power. In 2010, the Xiamen SEZ was expanded to cover the entire municipality. Today, Xiamen is a modern and international port city.