20 GBA companies enter the 2019 Fortune Global 500 List

On July 22, the 2019 Fortune Global 500 List was published listing a total of 129 companies from China.

Among the 129 companies, 20 are from Guangdong-Hong Kong-Macao Greater Bay Area (GBA), matching the same number as last year. These GBA companies contain seven based in Shenzhen, seven in Hong Kong, three in Guangzhou, two in Foshan and one in Zhuhai, covering a wide range of industries such as finance, real estate and technology.

A Guangdong manufacturer Gree Electrical Appliances entered the Fortune 500 List for the first time, ranking 414th. This year, Guangdong manufacturers took up over 30 percent of all the companies on the list.

Fifteen of the 20 companies have gained a higher ranking than last year. Country Garden Holdings rose from 353rd to 177th, marking its first time to break into the top 200, while Tencent Holdings moved up from 331st to 237th.

The list shows that the 20 companies in the GBA concentrate mainly on direct-to-customer (DTC) industries such as home appliances development and insurance services, playing an important role in the private economy of the GBA.

A transformation from separate operation to industrial collaboration is reflected in the list. Tencent has established cooperation with Guangzhou Automobile Industry Group to develop AI systems for autopilot equipment.

The GBA has been improving its industrial structure and promoting strategic emerging industries, which will in turn bring more benefits for self-development.