Hurun Research Institute releases list of most valuable foreign enterprises in China

This photo taken on July 4, 2022 shows a workshop of the Volkswagen Anhui MEB (Modular Electric Drive Matrix) plant under construction in east China's Anhui Province. (Xinhua)

Hurun Research Institute on Wednesday published a list of the top 100 foreign-invested enterprises making most significant contributions to Chinese economy, reported Chinanews.com.

The list is compiled upon comprehensive evaluation of the enterprises' sales volume and number of employees in China. The 100 companies on the list have nearly 3 million employees in China and saw their sales in China totaling 7.6 trillion yuan (about 1.09 trillion U.S. dollars) in the year 2021.

By sectors, the automotive, consumer goods, healthcare and consumer electronics sectors have most companies on the list. Among the 100 companies, 59 percent are direct-to-consumer and 41 percent are business-to-business, whereas 81 percent sell physical products and 19 percent sell software or provide services.

In terms of countries, most companies on the list are from the United States, followed by Japan, the United Kingdom, Germany and France, with companies from these five countries accounting for more than 80 percent of the total. European companies account for 44 percent of the top 100.

Chinese economy has provided a broad space for foreign businesses, said Rupert Hoogewerf, chairman and chief researcher of Hurun Report, noting that multinational enterprises have both gained development and benefits in China and made contributions to the country's economic development.