/PRZWT/October 23,2024 Shanghai-The 2024 Fortune China 500 Summit opened in Shanghai on October 17.With the theme of"New Dynamics,New Breakthroughs,"the summit brought together more than 400 managers,experts and scholars from Fortune China 500 companies and industry leaders to share their deep insights and practical experience in their respective fields,and jointly discuss the layout and actions to find new momentum in the increasingly complex macro situation.
In his welcoming remarks,Clay Chandler,executive editor of Fortune Asia,said:"The guests'sharing today will provide us with valuable experiences,lessons and inspiration to help us find our way through change.We believe that this is not just a summit,but also a collision of wisdom,courage and action,as well as a journey of exploration to find new opportunities and new impetus for the development of Chinese enterprises.We also believe that only through joint efforts and innovation can companies in this era of great change remain stable and thrive."
The agenda of this Fortune China 500 Summit was designed by the Fortune China Agenda team and senior editors.It brings together business leaders,renowned scholars and industry experts to create an excellent platform for the exchange of ideas.The summit follows the characteristics of all Fortune conference activities:including engaging content,far-reaching exchanges,original planning,and a variety of catering and social activities.
The summit discussed in depth the hot topics of concern to the business community,such as macroeconomics,industrial development,and technological innovation,through roundtable discussions,breakfast and lunch.
The main topics of the conference include:"Dialogue Chief Economist:Disassembling the momentum of economic recovery","New energy comes to a new crossroads","The evolution of artificial intelligence","ESG forward:new trends in social responsibility and corporate governance","Innovation to improve health and well-being","Attack Industry 4.0","Facing more rational consumers","From exports to going overseas,to being born global","Welcome to'clock in':reshaping the travel experience","Going to'net zero':circular economy and industrial green transformation",etc.
The summit featured a number of sessions,including:a VIP breakfast presented by Fortune and Amazon Cloud Technology on the theme of"Generative AI and Future Productivity";a VIP luncheon presented by Fortune and Boston Consulting Group(BCG)on the theme of"Variables,Stocks and Increments";a parallel session presented by Fortune and Schneider Electric on the theme of"Winning the present and the future:Sustainability and corporate growth";a parallel session presented by Fortune and LinkedIn on the theme of"Localization paths across borders".
Chu Li,director of the board office of Fortune Media Group and the general representative of Fortune Global 500 China,said:"The Fortune China 500 list is not only an honor list and a strength list,but also a microcosm of China's economic development,demonstrating the competitiveness of Chinese enterprises on the global economic stage.This year's list shows that despite facing many challenges,Chinese enterprises still show extraordinary resilience and innovation ability.Especially in the fields of Internet,new energy,and high technology,their rapid growth and breakthrough achievements have not only changed the industry landscape,but also injected new vitality into the high-quality development of China's economy."
"This year's Fortune China 500 list not only demonstrates the strength of Chinese companies in economic change,but also reflects the trend of optimizing China's economic structure and industrial upgrading.Significant growth in the internet and new energy sectors bodes well for the future vitality and innovation potential of China's economy.As China's economy continues to develop and its global influence increases,these companies will continue to lead industry changes and drive economic growth,"said Maiwen Zhang,executive editor of Fortune China.
Partners supporting the 2024 Fortune China 500 Summit include:strategic partner-Aikang Group,partner-XCMG Construction Machinery joint stock company,Schneider Electric Co.,Ltd.,Guangdong Guangxin Holdings Group Co.,Ltd.,LinkedIn,Amazon Cloud Technology,intellectual partner-BCG Boston Consulting Group,travel partner-ZEEKR Extreme Krypton,special support-Diageo Foreign Wine Trading(Shanghai)Co.,Ltd.
The Fortune China 500 list,which follows the same methodology as the Fortune Global 500 and includes both listed and unlisted companies,provides insight into the latest trends in China's largest companies.
The combined revenue of Fortune China's 500 companies in 2023 is about 14.60 trillion US dollars,more than 81%of China's GDP in the same year.Compared with last year,the threshold for this year's list has increased by about 9%to about 3.74 billion US dollars.
As a representative of the new power of car manufacturing,Li Auto,ranked 184th,has not only turned a profit in the past year,but also become the company with the largest jump in the list this year,rising 140 places from last year.
It is worth noting that the momentum of the beverage industry is fully reflected in the 2024 Fortune China 500 list.Three of the top 10 companies in the return on net assets(ROE)list are from the beverage industry:Nongfu Spring,Shanxi Fenjiu and Kweichow Moutai.Among them,Nongfu Spring topped the list with a ROE of more than 42%.
Thanks to the artificial intelligence boom,several Chinese Internet companies have re-entered the growth track.Among them,JD.com jumped to the highest ranking of mainland private enterprises this year.
