According to the Fortune Global 500 list released by Fortune on Monday, there are 133 Chinese companies included in the ranking. Shanghai saw 9 local companies in the Fortune 500 list this year, up from 7 last year. Shanghai Construction Group, 423rd on the list, and Shanghai Pharma, 472nd on the list, have entered the Fortune Global 500 list for the first time.

The Fortune 500 list is mainly based on corporate revenue. Companies on the list generated an average of 66 billion dollars in revenue in 2019, while Shanghai companies on the list had average revenues of 68.56 billion dollars, showing strong competitiveness.

At present, there are a number of Shanghai enterprises whose sales exceed hundreds of billion yuan hoping to be included on the list, including Donghao Lansheng, Fosun, Bright Food Group and Shanghai Electric Group. Though revenues of some enterprises like Pinduoduo and Meituan Dianping are less than hundreds of billion yuan, they still have great potential to be in the Fortune 500 in the future.