(Yicai) Aug. 6 -- The Unites States has more companies than China in the latest Fortune Global 500, an annual list of the world’s biggest firms ranked by revenue, for the first time since 2018.

The US had 139 companies in the 2024 Fortune Global 500, up from 136 a year earlier, compared with China’s 133, down from 142, according to the list published yesterday.

Arkansas-based retailer Walmart headed the rankings for the 11th straight year, with revenue of USD648.13 billion. State Grid, China’s highest-places business at USD545.9 billion, was third. Also in the top 10, energy giants Sinopec and China National Petroleum were fifth and sixth, respectively, at USD429.7 billion and USD421.7 billion.

Twenty-five other Chinese energy and chemical companies also made the list.

The revenue threshold for inclusion in the Fortune Global 500 jumped to USD32.1 billion from USD30.9 billion last year. Combined revenues at the 500 companies edged up to USD41 trillion, equal to one-third of the global total, while their net profits rose 2.3 percent to USD2.97 trillion.

Three Chinese commercial banks made the top 10 by profit: Industrial and Commercial Bank of China, China Construction Bank and Agricultural Bank of China, with ICBC's exceeding USD51.4 billion.

Ten Chinese carmakers and parts producers were included by revenue, with Chery Automobile entering for the first time, while the world's top-selling electric vehicle manufacturer BYD advanced 69 places to 143rd. Contemporary Amperex Technology moved up to 250th after making the list for the first time last year as 290th. 

Among Chinese tech firms, Apple's main supplier Hon Hai Precision Industry, better known as Foxconn, ranked 32nd, JD.Com 47th, China Mobile 55th, Alibaba Group Holding 70th, and Huawei Technologies 103rd. Boosted by the rebound of China's internet sector, on-demand services giant Meituan climbed the most after surging to 83rd from 384th, while Pinduoduo joined the list for the first time.

In the home appliance sector, Midea Group rose one position to 277th, Haier Smart Home climbed 12 rungs to 407th, while Gree Electric Appliances fell off the list.

Huawei, Alibaba, Tencent Holdings, SF Holding, Luxshare Precision Industry, and 24 other private companies from the Chinese mainland were in the Fortune Global 500.

In addition, 43 firms were included for the first time or regained a spot after missing out last year, five of which were Chinese, such as Hangzhou Industrial Investment Group.

Editor: Martin Kadiev