On July 28th, the 2020 Fortune China 500 List was released listing a total of 83 companies from the Guangdong-Hong Kong-Macao Greater Bay Area (GBA), 8 of which entered the list for the first time. Among the 83 companies, 71 are from Guangdong.
The threshold to enter this year's list was almost 17.8 billion yuan ($2.5 billion) in annual operating revenues, up 10 percent from the previous year.
As for the revenue of the top 10 listed GBA companies, all of which exceeds 200 billion yuan. Ping An Insurance, a Shenzhen-based company is the largest GBA company by revenue, with annual operating revenue of 1,168,867 billion yuan.
Most listed GBA companies based in Guangzhou, Shenzhen and Hong Kong, with 7 out of 8 newcomers on the list being from Guangzhou and Shenzhen.
The Fortune China 500 list is compiled by the Chinese edition of Fortune magazine and China International Capital Corporation Wealth Management, It's based on the annual reports of all Chinese listed companies.