China's Position in Global Rankings
China had 122 companies on the 2026 Fortune Global 500 list, eight fewer than in 2025, according to the rankings released globally on July 28, 2026 by Fortune China. The number places China second only to the United States, which had 141 companies on the list, up three from the prior year. Japan ranked third with 40 companies, an increase of two.
The combined revenue of the 122 Chinese companies reached approximately USD 10.4 trillion in 2025, accounting for roughly a quarter of total Global 500 revenues. The average revenue per Chinese company stood at USD 85.6 billion, above the overall list average.
State Enterprises Dominate
A total of 79 of the Chinese companies on the 2026 list are state-owned enterprises (SOEs), according to official data. Of these, 36 are centrally administered SOEs under the State-owned Assets Supervision and Administration Commission (SASAC), 32 are local state enterprises overseen by provincial or municipal governments, 10 are under the Ministry of Finance, and one is the Industrial Bank, whose largest shareholder is the Fujian Provincial Finance Department.
Global Top Five
Amazon overtook Walmart — which had led the rankings for 12 consecutive years — to become the world's largest company by revenue in 2025. Walmart ranked second. China's State Grid Corporation retained its third-place position. The fourth and fifth spots were held by UnitedHealth Group and Saudi Aramco respectively.
Profitability Leaders
Google's parent company Alphabet reclaimed the title of world's most profitable company with USD 132.17 billion in net profit for 2025, a 32% increase, displacing Saudi Aramco after four consecutive years at the top. Taiwan Semiconductor (TSMC) was the sole Chinese company in the top 10 most profitable list, earning USD 54.4 billion.
Key Statistics
| Metric | 2026 Data |
|---|---|
| Chinese companies on Fortune Global 500 | 122 |
| Change from prior year | -8 |
| State-owned enterprises among Chinese list | 79 |
| Combined revenue (122 Chinese companies) | USD 10.4 trillion |
| Average revenue per Chinese company | USD 85.6 billion |
Source: Fortune Global 500, July 28, 2026; SASAC, July 29, 2026.