![A graphic showing the logos of companies on the 2022 Fortune Global 500 list. [CGTN-CFP]](https://i0.wp.com/usachinatrading.com/wp-content/uploads/2022/08/A-graphic-showing-the-logos-of-companies-on-the-2022-Fortune-Global-500-list.-CGTN-CFP.jpeg?resize=525%2C295&ssl=1)
The revenues of Chinese companies on the Fortune Global 500 list exceeded that of their U.S. counterparts for the first time in fiscal 2021, according to the magazine’s annual ranking released on Wednesday. The revenues from Chinese companies on the list accounted for 31 percent of the total, surpassing their U.S. equivalents, which accounted for 30 percent.
Aggregate sales for the Fortune Global 500 jumped 19 percent, the highest annual growth rate in the list’s history. Sales by Global 500 companies hit $37.8 trillion, equivalent to two-fifths of global GDP in 2021. “The rebound from COVID-19 created a huge tailwind for the world’s largest companies by revenue,” Fortune said. Walmart topped the revenue chart, followed by Amazon. Chinese energy giants State Grid, China National Petroleum, and Sinopec made the top five.