Accprding to the overseas media, 133 Chinese companies were listed into the 2020 Fortune500, surpassing the United States (121) for the first time.  US-headquartered Walmart once again topped the list, followed by three Chinese state-owned companies—Sinopec Group, State Grid and China National Petroleum.

On the list were 53 companies from Japan, 31 from France, 27 from Germany and 22 from the United Kingdom.

 Huawei was ranked the 49th position of the Forune 500 this year, up from the 61st of last yearr. Chinese Internet giant Alibaba Group rose from 182 to 132 this year. E-commerce retailer JD.com, internet giant Tencent and smartphone maker Xiaomi ranked 102nd, 197th and 422nd respectively.

The rise of China as a leader of global business has clearly emerged during the past years, Fortune magazine editor-in-chief Clifton Leaf pointed out. However, the overall profit level of Chinese enterprises is still low.