[Photo via Beijing Fabu]

On July 29, the official website of Fortune (a global business magazine) announced the latest Fortune Global 500 List. With 47 enterprises based in it on the list, Beijing has topped the global ranking of cities for the 13th consecutive year, outnumbering the combined total of Tokyo (26) and New York (14). The city has solidified its reputation as a "Hub of Global 500". Moreover, around 25 percent of the enterprises on the list have established their headquarters in Beijing, Tokyo, New York, Shanghai, and London, with Beijing being home to more headquarters than any other city.

The Beijing-based enterprises on the list include State Grid Corporation of China (SGCC), China National Petroleum Corporation (CNPC), Industrial and Commercial Bank of China (ICBC), China Mobile, JD.com, Xiaomi, and Meituan. The ranking reveals that Beijing's strength lies not only in quantity but also in diversity of industries as well as quality. A total of 41 state-owned enterprises (SOEs), with their formidable strength, form the backbone of the city's contingent among the listed enterprises, while the six listed private enterprises serve as a vivid testament to the city's innovative vitality.

A total of 130 Chinese enterprises are included this year. It is noticeable that 10 Chinese automobile and auto part enterprises are included, with CHERY, BYD, and GEELY having made significant leaps in the ranking compared to the previous year.

(Sources: CCTV, Beijing Daily)