Nine Shanghai-headquartered companies were named to the 2026 Fortune Global 500 list, released on July 28, with several hard technology enterprises climbing rapidly in this year's rankings.

Ranked by their 2025 total revenue, the nine Shanghai-based companies are China Baowu Steel Group (100th), SAIC Motor (125th), Bank of Communications (188th), COSCO Shipping (237th), China Pacific Insurance (Group) (248th), PDD Holdings (255th), Susun Construction Group (340th), Shanghai Pudong Development Bank (349th), and Shanghai Pharmaceuticals Holding (411th).

Hard technology companies saw significant gains in this year's rankings.

Amazon topped the 2025 global revenue list for the first time, ending Walmart's 12-year reign.

Walmart, Saudi Aramco, Apple, and CVS Health ranked second, fifth, sixth, and ninth, respectively. McKesson and Alphabet, Google's parent company, entered the top 10 for the first time, ranking seventh and eighth. Alphabet reported net profit of $132.17 billion in 2025, an increase of 32 percent, making it one of the world's most profitable companies.

Huawei, boosted by its AI chip business, rose to 81st globally, with total 2025 revenue reaching $122.56 billion, roughly matching its peak level in 2021.

China had 122 companies on the list, eight fewer than last year, but still ranking second only to the United States.

The entry threshold rose to $33.2 billion, up from $32.2 billion a year earlier. The combined revenue of all 500 companies reached about $43.1 trillion, exceeding one-third of global GDP and representing year-on-year growth of 3.2 percent. Total assets and net assets of the 500 companies also reached record highs since the list was first published.

SAIC Motor recorded the largest rise among Shanghai-based companies, climbing 13 spots. In the first half of 2026, SAIC sold 2.05 million vehicles, making it the only Chinese automaker to surpass 2 million units in sales.

PDD Holdings, which first entered the list in 2024, rose 11 places from last year, driven by growth in both its domestic e-commerce platform and cross-border e-commerce platform Temu.

Source: Jiefang Daily