China's number in Top 500 companies falls from 51 to 47, according to Hurun Global 500 Report 2021 released on Friday.
Those companies, led by Tencent worth $697 billion and Alibaba, represented a total value of $5.5 trillion, more than the combined total of companies from third- and fourth-placed Japan and UK. But Alibaba's value was down 18 percent to 3.8 trillion yuan ($584 billion) and dropped 2 places to 9th globally following China's tougher regulations on platform economy, the report said.
Globally, the US led with 243 companies, up by one; followed by China 47, down by four. Japan was third with 30 and the UK was fourth with 24.
As per the report, the top 10 companies were worth $12.2 trillion, up $1.8 trillion, and represented 21% of the total value of the Hurun Global 500. Notably, US-based Alphabet, Microsoft, Amazon and Apple only added $1.5 trillion of value, 18% of the entire list.