Saturday, April 20, 2024

Pakistan is home to more than half of the Fortune 500 Chinese enterprises

More than half of the Chinese firms on the Fortune Global 500 for 2021 have invested or collaborated in Pakistan, reflecting Chinese companies’ faith in the country’s future economic growth.

According to the most recent study, more than half of the 143 Chinese firms on the list have activities in Pakistan.

The number of Chinese firms on the Fortune Global 500 list for 2021 was 143, including those from the Hong Kong Special Administrative Region (SAR) and the island of Taiwan, putting China No. 1 for the second year in a row. The number of Chinese companies on the list increased to 133 in 2020, surpassing the US for the first time.

China’s State Grid came in second, just behind Walmart, the world’s largest retailer. Two more Chinese firms, China National Petroleum & Sinopec Group and State Grid Corporation of China, also reached the top ten. The 660kV Matiari-Lahore high-voltage direct current (HVDC) transmission project is likewise managed by China’s State Grid Corporation.

SAIC Motor, which comes in at number 60 on the list, recently announced that it will expand its vehicle manufacturing factory in Pakistan in partnership with its local joint venture. The restoration of its factory is slated to be finished by the end of this month, and locally built automobiles will shortly be available on the Pakistani market.

Huawei, Lenovo, and Xiaomi have all increased their positions in terms of mobile phone firms. Huawei has improved from 49th last year to 44th this year. Lenovo Group is ranked 159th, up 65 spots from the previous year.

Since 2015, Huawei, ranked 44, has collaborated with Pakistan’s Higher Education Commission (HEC).

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