Fortune Global 500 Forum: China is still the bet, executives say

The two-day 2026 Fortune Global 500 Forum, themed “The New Growth Equation,” concluded in Guangzhou on 16 September, gathering executives from multinational companies, investors and research institutions from around the world.

What records did this year’s Fortune 500 list set?

This year’s Fortune Global 500, now in its 37th edition, was comprised of companies that posted record combined revenue of US$43.1 trillion, up 3 percent, and net profit of US$3.4 trillion, up 14 percent, in 2025. Amazon ended Walmart’s 12-year reign at number one after crossing US$700 billion in revenue with a 12 percent jump.

[See more: Fortune Leaders Forum: Macao eyes shift from tourism to business]

Technology was the list’s standout sector, with 38 companies, revenue up more than 20 percent to roughly US$4 trillion, and profit climbing 36 percent to about US$835 billion, both far outpacing the list’s overall growth. Nvidia was one of four US tech firms, alongside Alphabet, Apple and Microsoft, to individually clear US$100 billion in profit, and climbed to 28th place overall, up sharply from 222nd when it first made the list in 2024.

Why multinational executives keep betting on China

Several speakers mentioned China, and Guangdong specifically, as central to their growth plans despite global geopolitical uncertainty. BASF Greater China chairman and president Haryono Lim said China already accounts for 14 percent of the company’s global sales, with room to grow further, pointing to its fully operational, 100 percent renewable-powered integrated production site in Zhanjiang, a project the company committed to eight years ago and has no plans to walk back regardless of external conditions.

Nissan corporate executive Isao Sekiguchi said partnerships with Chinese firms including Huawei, CATL and Momenta have let Nissan bring competitively priced, high quality vehicles to market faster, adding that technology developed in China is increasingly travelling from China to global markets rather than the reverse. ZF China president Renee Wang described China as the company’s “gym,” saying supply chains built in and around the country could also benefit its operations in Europe and North America.

How is AI reshaping business, according to speakers?

Amazon vice president Rob Chu said AI is “no longer just a tool,” but is becoming “a digital employee of the future” that could work alongside people to drive productivity, while cautioning that appropriate regulation is needed as it becomes more embedded in business.

Boston Consulting Group China chairman Liao Tianshu offered a specific breakdown, arguing that AI’s business value is only 10 percent algorithm and 20 percent data and technology, with the remaining 70 percent coming down to organisational change and people, citing research showing 90 percent of CEOs expect AI to reshape the rules of success in their industries by 2028.

Haier chairman and chief executive Li Huagang described Chinese manufacturers shifting from “globalising their business” to “globalising their capability,” citing a highly efficient washing machine his company built by combining structural design from Nuremberg, exterior design from Milan, manufacturing expertise from Japan, a motor from New Zealand and algorithms from China, all developed by one global team on a shared platform.