The "socialist" planned economy, which China continues to persecute, can be unequivocally attached to the ownership structures of the largest companies in the country. The largest companies in terms of turnover are almost exclusively state-owned companies. Largest Chinese company 2018 is the world's largest oil company Sinopec, which is wholly owned by the Chinese government. Click here to get directly to the TOP 10!
The internationally operating Industrial and Commercial Bank of China (ICBC) is considered the world's largest bank both in terms of turnover and in terms of deposit size and customer size. In terms of turnover, it ranks fifth nationally and is majority-owned by the Chinese government.
Ping An Insurance
Ping An Insurance is currently the world's largest and most valuable insurer and the sixth-largest Chinese company - even the top-selling Chinese private company. The company is currently considered one of the digital pioneers in the international insurance business. Especially with the digital interaction with the customer and skilful connection of the insured with their other non-insurance related products and services.
Non-governmental enterprises are the most valuable Chinese companies
Although they are not (yet) in the TOP 10 in terms of sales volume, Alibaba and Tencent are still the most valuable Chinese companies by market value. Both together amount to around half a trillion US dollars in stock market value (current price multiplied by the total number of shares). Tencent is currently the most significant IT and software company in Asia by market value, and has become particularly popular with its Whatsapp counterpart WeChat, which is extremely successful in China. Alibaba on the other hand, Asia's largest Internet retailer is one of the world's largest sales platforms (by far the largest in terms of sales volume) Alibaba (Chinese commercial sellers to international corporate clients), Tmall (Chinese commercial sellers to private customers), Taobao (Chinese private sellers to private customers) or AliExpress (international private sellers to private customers).
The five most valuable Chinese companies (2018)
1. Alibaba: 480,9 billion US $ (privately owned)
2. Tencent: 472,1 billion US $ (privately owned)
3. ICBC: 305,1 billion US $
4. China Construction Bank: 225,0 billion US $
5. Ping An Insurance Group: 220,2 billion US $ (Privately Held)