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On August 10, the Fortune Global 500 list of 2020 was released. CASIC has appeared on the listed for five consecutive years, ranking 332nd this year.
CASIC is the backbone in the development of the aerospace industry, the main force in construction of China into an aerospace power and construction of national defense weapon and equipment, and the leading enterprise in the development of China's industry information technology. With the orientation of "serving national strategy, national defense construction, and national welfare and people's livelihood", CASIC is mainly engaged in five major industry sectors including defense equipment, aerospace industry, information technology, equipment manufacturing and modern service industry, ranking 332nd among the Fortune Global 500 companies.
The Fortune Global 500 list can be traced back to 1955. That year, the Fortune ranked the 500 largest industrial companies in the United States according to the total revenue of each company in 1954. On August 7, 1995, the Fortune published the Fortune Global 500 list covering both industrial and service companies for the first time. This year is the 26th consecutive year that Fortune publishes this list of global major companies.
Last year, 129 of the Fortune Global 500 companies came from China, surpassing the US for the first time in history which had 121 companies on the list. This year, the most dramatic change in the list is that 124 companies from Chinese mainland (including Hong Kong) appear on the list, undoubtedly representing a historical leap of enterprises in Chinese mainland and surpassing the US for the first time in history which has 121 companies on the list. There are 133 Chinese enterprises (including those from Taiwan) on the list in total.
In this year's Fortune Global 500 list, 48 central state-owned enterprises funded by the SASAC of the State Council and 32 state-owned enterprises funded by local SASACs are shortlisted.
