China's top 100 multinational corporations and transnationality indexes released

On September 2, at the 2018 Top 500 Enterprises Summit Forum, the China Enterprise Confederation and China Entrepreneur Association released the "Top 100 Multinational Corporations and Their Transnationality Indexes" to the public for the eighth consecutive year. China's large enterprises are aggressive in international operations and have made positive progress. In 2018, China's top 100 multinational corporations' average transnationality index was 15.80 percent, up 0.95 percentage points from the previous year. The entry threshold of the list, the overseas assets and overseas employees of the top 100 enterprises have all been raised.

1. The scale of the enterprises and the entry threshold of the list continue to rise.

In 2018, the overseas assets of China's top 100 multinational corporations reached 8,733.1 billion yuan ($1268.24 billion), an increase of 8.11 percent over the previous year; the overseas operating income reached 5965.2 billion yuan, up 17.84 percent over the previous year; the total number of overseas employees reached 1,297,121, an increase of 11.23 percent over the previous year; and the threshold for the 2018 China's Top 100 Multinational Corporations is 7,222 million yuan, an increase of 17.49 percent over the previous year. China National Petroleum Corporation, Sinopec Group, China National Chemical Corporation, CITIC Group, China COSCO Shipping Corporation Limited, China National Offshore Oil Corporation, Tencent Holdings Limited, Sinochem Group Co., Ltd., State Grid Corporation of China and China Minmetals Corporation are among the top 10 on the list.

2. Forty-nine companies have transnationality index higher than the average.

The top 10 companies on the list with the highest transnationality indexes are China National Chemical Corporation, WH Group, Sinochem Group Co., Ltd., Legend Holdings Corporation, Zhejiang Geely Holding Group, Ningbo Joyson Electronic Corporation, Haier Group, Zhongding Group, Fosun International Limited, and JinkoSolar Holding Co., Ltd. Among them, the transnationality index of China National Chemical Corporation ranks first, reaching 70.43 percent. The average transnationality index of China's Top 100 multinational corporations in 2018 is 15.80 percent; and 49 companies have transnationality indexes higher than the average.

3. The majority of the top 100 enterprises are in economically developed areas. State-owned holding enterprises still dominate the list, and there are a large number of enterprises in the metallurgy, machinery and equipment, and construction industries.

The headquarters of the enterprises on the list are located in 20 provinces, autonomous regions and municipalities directly under the central government, the majority are in economically developed areas, including 42 in Beijing, nine in Shanghai and nine in Zhejiang, seven in Guangdong and seven in Shandong, four in Jiangsu, three in Hunan, three in Anhui and three in Yunnan, two in Xinjiang and two in Gansu. Tianjin, Hebei, Fujian, Jiangxi, Henan, Chongqing, Sichuan, Shaanxi and Liaoning each have one.

From the point of view of the nature of corporate ownership, in the list there are 27 private enterprises and 73 State-owned and State-holding companies, of which 39 are State-owned central enterprises, indicating that the main force in the internationalization of large enterprises is still the State-holding company.

According to the industry in which the company is located, in the list there are 15 enterprises in the metal products industry; 11 in the industrial and commercial machinery and equipment industries; nine in the construction industry; seven in each of the transportation equipment and parts manufacturing industries, and the consumer goods manufacturing industries; five in each of the wholesale trade industry and the mining industry; four in each of the real estate, telecommunications and internet information services, utility services and military industries; three in each of the chemicals manufacturing industries, food and beverage manufacturing industries, diversified investment industries and comprehensive manufacturing industries; and two in each of the computer, communication equipment and other electronic equipment manufacturing industries, building materials manufacturing industries and comprehensive services industries.

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