As 2023 comes to an end, the latest market value ranking of the top 500 Chinese companies is also released. Affected by geopolitics and the global economic downturn, this list has undergone significant changes. TSMC surpassed Tencent Holdings to rank first, with a total of 76 new faces joining the top 500. Specifically, in which industries are these “star companies” concentrated? In which areas are they distributed?
According to the latest 21 Data News Laboratory statistics, as of December 31, 2023, in the latest market value rankings of the top 500 Chinese companies, TSMC ranked first with 3,820.1 billion yuan, and Moutai ranked third with 2,168.2 billion yuan. The number of companies with a market value of trillions increased to 11, and the ranking of the TOP20 has changed significantly. 8 of the 76 new companies entering the list will be newly listed in 2023.
Among the top 20, Internet giants include Tencent (second), Alibaba (fifth), and Pinduoduo (sixth); new energy sources include CATL (12th) and BYD (20th).

China's top 500 companies are still concentrated in large finance (77 companies), electronics (57 companies), medicine and biology (42 companies), information technology (41 companies), etc., and there are 22 automobile companies.

1. Electronics: 13 more companies added
The number of electronics companies in the top 500 increased significantly by 13, and the market value of 42 companies increased to varying degrees, accounting for 74%. The market value of industry leader TSMC (2330.TW) soared by 1.1 trillion yuan, driving industry chain stocks Shixin-KY (3661.TW), Wistron (3231.TW), Creative Electronics (3443.TW), and Gigabyte (2376.TW). TW) market value doubled, with increases of 337%, 241%, 176%, and 154% respectively. Affected by factors such as third-quarter results that were lower than market expectations, the market value of domestic chip leader Ziguang Guowei (002049.SZ) fell by nearly 49%.

CITIC Securities research report believes that the revenue of the electronics sector in 2024 is expected to benefit from the low base effect and achieve year-on-month growth. AI technology resonates with product innovation, and independent research and development companies are expected to perform outstandingly.
2. Automobiles: New energy vehicle companies soar
The automobile is a strategic and pillar industry of the national economy and one of the important areas that stimulates domestic demand and expands consumption. In China, where the development of new energy vehicles is the hottest, fields related to new energy vehicles are developing rapidly, as can be seen in the latest list.

The market value of BYD (002594.SZ) leads the automobile industry sub-list with absolute advantage, ranking firmly in the TOP20 in the overall list; the market value of Li Auto (2015.HK) and Cyrus (601127.SH) both increased by more than 90%, ranking respectively Jumped 72 places and 187 places.
According to the "2024 China Automobile Market Overall Forecast Report" released by the China Association of Automobile Manufacturers, my country's new energy vehicle sales are expected to be about 11.5 million units in 2024, and exports will be about 5.5 million units. As China's economy gradually recovers, it is expected that automobile market demand will continue to maintain steady growth, and the Chinese automobile market will enter a new stage of 30 million units in the future.
A CICC research report pointed out that China’s electric vehicle technology has competitive advantages, product strength is strong, and the export acceleration trend remains unchanged. With the accumulation of scale and technological advantages, we are optimistic that Chinese automobiles will accelerate their globalization and overseas sales will continue to develop rapidly in the next few years.
3. Regional distribution of China’s top 500 companies
The latest top 500 companies by market value have obvious headquarter effects, with their headquarters in Beijing (107), Shanghai (53), Hong Kong (43), Taipei (35), Shenzhen (30), Hangzhou (19), Guangzhou ( Companies from 7 cities including 11) accounted for nearly 60%; 255 companies came from the four provinces of Beijing, Guangdong, Shanghai, and Zhejiang, accounting for 51%. The scale effect of industrial innovation is prominent. Anhui has 10 companies ranked among the top 500, ranking ninth.
As the first headquarters of central enterprises, Beijing has 107 top 500 listed companies, with a total market value of more than 21 trillion yuan, and its volume is approximately 29% of all top 500 companies. It has gathered a large number of industrial giants such as banks, petroleum and petrochemicals, and Internet companies, and the TOP10 companies Half of them are headquartered in Beijing.

The latest complete list of China’s top 500 listed companies by market capitalization↓↓