Three Xiamen enterprises reappear on Fortune Global 500 list
This year's Fortune Global 500 list was announced on Aug 5, with three Xiamen companies, including C&D Group, ITG Holding Group, and XMXYG Cooperation, once again making the cut.
The Fortune Global 500 list is considered the most authoritative ranking of large companies worldwide and is primarily based on companies' annual revenue from the previous year.
C&D Group ranked 85th, ITG Holding Group ranked 142nd, and XMXYG Cooperation ranked 187th.
This is the eighth year in a row that C&D Group and ITG Holding Group have made the list and the seventh straight year for XMXYG Cooperation.
This year, the total revenue of companies on the Fortune Global 500 list is approximately $41 trillion, equivalent to one-third of global GDP. A total of 133 Chinese enterprises made the list.
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.