3 Xiamen firms make 2018 Fortune Global 500 list

Three companies from Xiamen, Fujian province make the Fortune Global 500 list for 2018. [Photo/fortune.cn]

Three companies from Xiamen, Fujian province made the Fortune Global 500 list for 2018 released by Fortune magazine on July 19.

It's an improvement from the 2 spots the city held in 2017, with Xiangyu Group entering the list for the first time this year in 375th place.

Xiamen ITG Holding Group tops the other two local companies on the list, ranking 360th, jumping 134 places from last year.

The company generated more than 222.37 billion yuan ($32.87 billion) in 2017, up 53 percent from last year, an increase of 54 percent in profits year-on-year.

The Xiamen based firm is a state-owned enterprise directly affiliated with the Xiamen Municipal Government, owning two listed companies: Xiamen ITG Group Co Ltd, Xiamen Xindeco Ltd and four wholly-owned subsidiary companies.

Their businesses involve four major sectors, including supply-chain operation, real estate and property services, financial services, and manufacturing.

Xiamen C&D Corp stands at 362nd on the Fortune Global 500 list, up 126 places from last year.

The number of Chinese companies on this year's Fortune Global 500 list reached 120, a close second to the United States' 126 and considerably more than Japan, who have 52 companies to take third place in the total number of Fortune Global 500 companies by country.

Fortune's annual list ranks the world's largest companies as measured by total revenue.