The number of Chinese companies on the Forbes Global2000 hit a record 309 this year
A monitor displays Alibaba Group Holding Ltd. signage on the floor of the New York Stock Exchange. How much money would you have made investing in some of China's biggest corporations this year? Photographer: Michael Nagle/BloombergAnd once again, their state-owned banks account for half of the top 10 biggest companies in the world, based on the findings in the latest Forbes Global 2000, released on Wednesday. No country has more bank giants than China.
Last year, China's second largest oil producer was considered the 30th largest corporation. It's now at 22. Its shares are down 5.56% year-to-date , so it is clearly underperforming the CSI-300 and the MSCI China indexes. Over the last 12 months, PetroChina is even worse, down 24.17%. Five years? You've thrown half your money away.The China Petroleum & Chemical Corporation has slipped from 27 to 35 on the Global 2000.
The stock is down 3.6% this year; 10.67% over 12 months, and a big win for long-termers. China Evergrande Auto stocks are up 574% in five years, or 5,740 Hong Kong dollars . Investors in SAIC shares saw their $1,000 earn them 18.60 renminbi, which is a whopping $2.71 after the exchange.
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