Big companies not necessarily strong
A HUNDRED AND TEN CHINESE COMPANIES made the latest Fortune Global 500 list, almost double the number from Japan. Twelve of them made their debut, including manufacturing powerhouse China Railway Rolling Stock Corp and property developer Wanda. Beijing News commented on Saturday:
The latest Fortune Global 500 list illustrates the fact that with Asian, especially Chinese companies, evolving into multinational giants, Western companies no longer dominate the global marketplace. But it also reveals the problems, such as structural imbalances, inefficient profitability, and high concentration of resources, with many Chinese enterprises.
To be specific, most of the listed Chinese companies are still in traditional sectors, such as energy, banking, and real estate.
