For the past few years, China has been looking for more ways to dominate American companies—with mediocre results. But a breakthrough came in January.
The Trump administration approved the acquisition of U.S. semiconductor manufacturing equipment company Akrion Systems by Beijing-based Naura Microelectronics Equipment Co. And in June, China Oceanwide Holdings Group received approval by the U.S. Committee on Foreign Investment to acquire Richmond, Virginia-based insurer Genworth Financial, Inc.
These power grabs are mirrored in our Forbes Growth Champions list, where Chinese companies account for seven of the top 10—and all of the top five. Last year, China only accounted for four of the top 10.
Forbes partnered with Statista for our second annual list, which looks at the revenue growth of all the companies on the Forbes 2018 Global 2000 list. This list features the top 250 performers of the 2018 Global 2000 based on the compound annual growth rate of revenues from 2014 to 2017. All figures were converted into U.S. dollars, and Statista then ranked the growth rates.
Topping the list is Chinese real estate developer Greenland Holdings Group , which saw $44.8 billion in sales and $1.5 billion in profit last year. It jumps up from its third place spot on our 2017 list. The company made headlines last month when it announced a partnership with U.S.-based infrastructure firm AECOM. The companies plan to coordinate on large-scale construction projects globally and, more specifically, in China. The two recently collaborated on the $1.2 billion condo-and-hotel Metropolis project, one of the biggest real estate developments in Los Angeles history. Greenland has a market value of $13.9 billion.
Jumping up 25 spots, Liberty Expedia Holdings is the top-performing U.S. company at No. 9. Sales shot up last year, going from $1.6 billion in 2016 to $10.6 billion in 2017. The company’s principal assets consist of online travel company Expedia and its subsidiary Bodybuilding.com. In this first quarter of this year, Expedia (which owns Hotels.com, Travelocity and Hotwire, among others) saw gross bookings increase 15% year-over-year to $27.2 billion.
The only country that made it into the top 10 is South Korea with #6 SK Holdings Co., a holding company with interest in telecom, IT services, chemicals and energy, among others. The company doubled its profits last year, going from $2.4 billion in 2016 to $4 billion in the past year.
See the full 2018 Growth Champions list here.
For more coverage of the Forbes 2018 Global 2000, click here.
Data by: Andrea Murphy
More Info: www.forbes.com