Taiwan Today

Hon Hai Precision Industry, Cathay Life Insurance, CPC Corp., Formosa Petrochemical, Quanta Computer, and Asustek Computer have made the Fortune 500 again this year. Most of the companies are ranked higher than last year. Hon Hai jumped from 132nd to 109th, followed by Cathay Life (291), CPC (306), Formosa Petrochemical (323), Quanta (342) and Asustek (436). Royal Dutch Shell tops Fortune Magazine’s list of the 500 largest companies in the world this year. For the first time in 10 years, a company not based in the United States occupies first place, and the number of U.S. corporations on the list has dropped to 140, a record low since 1995, fully reflecting the impact of the economic downturn on the U.S. economy. Seven out of the top 10 are energy companies. Royal Dutch Shell’s revenues surpass second place Exxon Mobil’s by US$15 billion. Wal-Mart Stores, ranked first for the last two years, dropped to third place. A record total of 37 Chinese companies appear on the list this year. “Fortune” pointed out that with the emergence of China as an economic power in Asia, its companies have rapidly accumulated wealth. The China Petroleum & Chemical Corp. is ranked ninth, and it is one of the nine Chinese companies that have entered the list for the first time. Previously listed Chinese companies have all moved up in rank. “Fortune” quoted from a report by the U.S. National Intelligence Council saying that if the situation continues, China will be the world’s second largest economy by 2015. Japan has the second largest number of companies on the list, with 68. Toyota Motor Corp., listed at number 10, is the only automotive company in the top 10. France, with 40 companies, and Germany, with 39, barely beat out China. (WFW-THN)