Jul 13, 2022|
JD.com Ranks No.7 on 2022 FORTUNE China 500 List
by Vivian Yang
For the first time, JD.com ranked among the Top 10 on the list of FORTUNE China 500, moving up 4 places to No.7, according to the 2022 edition of the annual list released by FORTUNEChina.com on July 12th.
JD.com is also the only private enterprise on the Top 10 list, which is dominated by state-owned enterprises. The top 10 on the list are Sinopec, CNPC, China State Construction, Ping An Insurance (Group), China Railway Group, CRCC, JD.com, ICBC, China Life and China Mobil.
The List measures the largest Chinese listed companies by revenue each year and reported a total revenue of RMB 62 trillion yuan from all the 500 companies in the past year. With net revenue of RMB 951.6 billion yuan in 2021, JD.com achieved a growth of 27.6 percent year over year, a stronger rate compared to the 17.4 percent average growth rate of the 500 listed companies.
“JD.com’s self-operated B2C model gives it an advantage in revenue growth,” explained Anqi Yang, senior editor of FORTUNEChina.com in an online interview for the List’s release.
“[Compared with other platform companies] JD.com possesses more real economy attributes, including that the company runs its own logistics infrastructure, like warehouses and others,” Yang added. “That’s why we describe it as a new type of real economy enterprise.”
In the past three years from 2019 to 2021, JD.com has accumulatively put in more than RMB 2 trillion yuan in products procurement, infrastructure construction, R&D, logistics fulfillment, employee welfare, supportive measures for brands and merchants and more – all of which are integral parts for the development of the real economy.
At the same time, heavy investment and use of technology have played an increasingly important role in JD’s business growth. To date, the company’s intelligent and open supply chain system manages over 10 million self-operated product SKUs and more than 1,400 warehouses that provide a prime shopping experience to over 570 million customers, support the business development of hundreds of thousands of merchants and empower over one million offline stores. The company also serves over 8 million enterprise clients today and has established collaboration with over 90 percent of China-based affiliates of the Fortune Global 500 companies.
Amidst the continued fight against the COVID pandemic in the past two years, JD.com, which is positioned as a supply chain-based technology and service provider, has been going above and beyond to leverage its “Responsible Supply Chain” capabilities to support customers, merchants, local governments and society, fulfilling its social responsibility while bringing the value of supply chain to the whole society’s greater recognition.