Jiangsu has three companies on this year¡¯s Fortune Global 500 list, which was released on August 2.

All located in Suzhou City, Hengli Group, Shenghong Group and Jiangsu Shagang Group rank 123rd, 222nd and 348th, respectively.

Hengli Group, established in 1994, has been included on the list for several years. The enterprise focuses on the full production chain in oil refining, petrochemical, polyester new materials and textiles. With 170,000 employees, it currently has one of the world¡¯s largest PTA plants, one of the world¡¯s largest functional fiber production bases as well as weaving enterprises. Hengli¡¯s total revenue in 2022 was 611.7 billion yuan.

Shenghong has jumped to 222nd place from 241st in the previous year¡¯s ranking. Founded in 1992, Shenghong has formed an innovative high-tech conglomerate with petrochemical, new energy, new materials and high-end textile as its main businesses. The group has three industrial bases, Suzhou, Lianyungang and Suqian, and two planned energy storage projects in Taizhou and Zhangjiagang, with business in more than 100 countries and regions.

On July 18, Shenghong started construction of an energy storage battery R&D and production base in Zhangjiagang with a total investment of 30.6 billion yuan and a planned production capacity of 60GWh.

Shagang is a world-famous steel products and comprehensive service supplier, with products exported to more than 100 countries and regions around the world. The group has total assets of 300 billion yuan, more than 40,000 employees and an annual steel production capacity of over 40 million tonnes.

A total of 142 Chinese companies, including those in Taiwan, made it to the annual list.