A large number of Chinese auto companies are listed in the Fortune Global 500, Country Garden and Amer International fall out

On August 5, Fortune updated the Fortune Global 500 list for 2024.

This year, a total of 133 Chinese companies made the list, nine fewer than last year.

Among the 128 Chinese mainland companies on the list, in addition to five new and re-listed companies and six companies with unchanged rankings, 46 companies saw their rankings rise, while 71 saw their rankings fall.

Among the major internet companies, Alibaba's ranking dropped by two places, while JD.com, Tencent, and Meituan all improved their rankings, and Pinduoduo entered the list for the first time.

Benefiting from the recovery of China's internet industry, Meituan became the Chinese company with the most significant improvement in ranking, jumping 83 places to 384th. JD.com Group re-entered the top 50, ranking 47th, replacing Ping An Insurance as the largest private enterprise in mainland China.

Among automotive and automotive parts companies, Chery entered the list for the first time, ranking 385th with revenue of $39.1 billion. Most of the other nine companies also saw their rankings improve. Last year, BYD was the Chinese company with the most significant improvement in ranking. This year, the company's revenue increased from $63 billion last year to $85.1 billion, and its ranking improved by 69 places from last year.

Meanwhile, CATL's revenue increased from $48.8 billion last year to $56.6 billion this year. Geely's revenue also improved by 40 places, from $60.4 billion to $70.4 billion.

In terms of changes in ranking, UBS Group had the largest increase this year, jumping 165 places to 182nd. Deutsche Bank rose 149 places to 205th, the second-largest increase. Of the top 10 companies with the largest ranking increases, nine were banks, with only one insurance company. Four Chinese companies improved their rankings by at least 50 places this year: Meituan, BYD Co., Ltd., Shenghong Holding Group Co., Ltd., and Taikang Insurance Group Co., Ltd.

Compared to 2023, four Greater Bay Area companies did not appear on this year's list, including Amer International Group, Country Garden, China Pacific Insurance Group, and China Merchants Group. AIA Group re-entered the list, but there were no new entrants, and the number of qualified companies decreased by three from last year.