Which ten industries are China's hundred-billion-yuan enterprises distributed in?

Why are China’s trillion-dollar companies concentrated in banking and industrial sectors?

First, regarding companies with a market value of over one trillion yuan. Based on the 2024 average exchange rate of 7.1217, one trillion yuan is approximately 140 billion USD. Using this as a standard, there are 1,318 companies worldwide with a market value exceeding one trillion yuan, distributed across 47 countries and regions. Among them, the United States has 501 companies (38.0%), China has 148 (11.2%), and Japan has 96 (7.3%). Out of 163 GICS (Global Industry Classification Standard) four-digit industries, 17 industries have not yet produced companies with a trillion-dollar market value, including drones, furniture, education services, robotics, and non-traditional telecom operators. The remaining 146 companies with trillion-dollar market values are concentrated in finance, industry, information technology, healthcare, and other sectors.

Hé Zhiyi, Chief Expert at Tsinghua University Global Industry Research Institute and Professor at Peking University, analyzed in the heavyweight annual book “The Trillion Dollar Code” that the top ten industries with the most trillion-dollar companies in China are comprehensive banks, investment banking and brokerage, distilled spirits and wine, construction machinery and heavy transport equipment, packaged foods and meat products, regional banks, coal and consumer fuels, construction and engineering, integrated telecommunications, and renewable energy power generation.

Next, regarding companies with annual revenue exceeding one trillion yuan. Globally, there are 993 companies with revenue over one trillion yuan, distributed across 46 countries and regions. Among them, the United States has 298 companies (30.0%), China has 159 (16.0%), and Japan has 99 (10.0%). Of the 163 GICS four-digit industries, 41 industries have not yet produced companies with annual revenues over one trillion yuan, including drones, data processing and outsourcing services, internet services and infrastructure, electronic equipment and instruments, robotics, and others. The remaining 122 companies with trillion-yuan revenues are concentrated in industrial, financial, non-daily consumer, and daily consumer sectors.

In China, the top ten industries with the most companies earning over one trillion yuan are comprehensive banks, construction and engineering, real estate development, trading companies and distributors, automobile manufacturing, steel, multi-category retail, coal and consumer fuels, household appliances, and information technology and peripherals.

(This article is an excerpt; the full content is available in the annual new book “The Trillion Dollar Code” by Zhenghe Island.)