Fortune Plus APP released the 2023 Fortune Global 500 list globally in sync on August 2, 2023, Beijing time. A total of 142 Chinese companies made the list, including 13 Chinese enterprises in the engineering and construction industry:

2023 Fortune Global 500 (Chinese Companies) — Engineering and Construction Industry

Chinese Construction Companies Hold Firm Position, Continue to Sweep Top Six in the Industry

This year, a total of 17 engineering and construction enterprises worldwide made the Global 500 list, and Chinese construction companies continued to sweep the top six places in the engineering and construction industry ranking. China State Construction Engineering Corporation ranked 13th on the Fortune Global 500 with annual revenue of approximately US$305.8 billion.

In the engineering and construction industry ranking, China State Construction Engineering Corporation continued to hold the top spot among global construction companies, while ranks 2-6 were held by China Railway Engineering Group Co., Ltd., China Railway Construction Corporation Limited, China Communications Construction Company Limited, Power Construction Corporation of China, and Pacific Construction Group Co., Ltd., respectively. France's Vinci Group, France's Bouygues Group, Japan's Daiwa House Group, and Spain's ACS Group ranked 7th, 9th, 14th, and 15th in the industry list, respectively. Ranks 8, 10, 11, 12, 13, 16, and 17 were held by China Energy Engineering Group Co., Ltd., Susun Construction Group Co., Ltd., Shanghai Construction Group Co., Ltd., Guangzhou Municipal Construction Group Co., Ltd., Shudao Investment Group Co., Ltd., Shaanxi Construction Engineering Holding Group Co., Ltd., and Chengdu Xingcheng Investment Group Co., Ltd., respectively. Globally, Chinese engineering and construction enterprises occupy a solid industry position, demonstrating clear advantages and strong strength.

In recent years, the number of Chinese engineering and construction companies on the list has risen year by year: 8 in 2019, 9 in 2020, 10 in 2021, 12 in 2022, and this year the number climbed again to 13, showing a trend of sustained growth.

1 Chinese Construction Company Makes the List for the First Time; More Than 80% of Construction Companies Drop in Ranking

Focusing on the construction sector, there were 13 Chinese companies in the engineering and construction category on the list, one more than last year's total. It is worth noting that this year Shaanxi Construction Engineering Holding Group Co., Ltd. made the Fortune Global 500 for the first time with operating revenue of US$34.7 billion, ranking 432nd.

Among the Chinese construction companies on this year's list, apart from China Energy Engineering Group Co., Ltd., which rose 13 places, and Shudao Investment Group Co., Ltd., which rose 24 places, the other 10 enterprises all fell to varying degrees in the rankings. In other words, among the 12 companies whose ranking changes can be calculated, 80% dropped in the rankings.

In recent years, Chinese companies have continued to lead the Fortune Global 500 list, demonstrating the strength and potential of China's economy. However, it should also be noted that in terms of profitability and other aspects, Chinese companies on the Fortune Global 500 still lag somewhat behind some companies from developed economies such as the United States and Europe. In the future, the quality and efficiency of Chinese enterprises' development still need to be further improved.