Xiangzhou District, Zhuhai

Xiangzhou-based Gree Electric Appliances was included in the Fortune Global 500, an annual ranking of the top 500 corporations worldwide according to revenue, for the first time.

The list was released by the American business magazine Fortune magazine on July 22, with Walmart topping the rankings for the sixth consecutive year. The number of Chinese entries reached 129 this year, surpassing that of the US for the first time.

Gree boasts an annual revenue of more than $30.2 billion yuan, and was ranked 414th. Its rate of return on common stockholders' equity ranked first among the 129 Chinese enterprises on the list, a strong testament to the company's core competitiveness.

A diversified industrial giant, Gree primary engages in household appliances, high-end equipment, and telecommunication devices. Its products are sold to more than 160 countries and regions, reaching over 40,000 users around the world.

Gree-made robots

The company led the global household air-conditioner industry for the 14th consecutive year in 2018 with a market share of 20.6 percent, according to the Survey of Market Share for Major Global Goods & Services recently released by Japanese financial newspaper Nihon Keizai Shimbun.

Dong Mingzhu, chairwoman of Gree Electric Appliances, shares her insights on the rise of Chinese brands in the world at the Boao Forum for Entrepreneurs. [Photos courtesy Xinhua]