The World’s Top 100 Non-Financial MNEs from Developing and Transition Economies based on Foreign Assets in 2018* are listed in the table below:
| Ranking based on Foreign assets | Corporation | Home economy | Industry |
|---|---|---|---|
| 1 | CK Hutchison Holdings Limited | Hong Kong, China | Retail Trade |
| 2 | China National Petroleum Corp (CNPC) | China | Mining, quarrying and petroleum |
| 3 | Hon Hai Precision Industries | Taiwan Province of China | Electronic components |
| 4 | Sinopec - China Petrochemical Corporation | China | Petroleum Refining and Related Industries |
| 5 | Samsung Electronics Co., Ltd. | Korea, Republic of | Communications equipment |
| 6 | China COSCO Shipping Corp Ltd | China | Transport and storage |
| 7 | Tencent Holdings Limited | China | Computer and Data Processing |
| 8 | China National Offshore Oil Corp (CNOOC) | China | Mining, quarrying and petroleum |
| 9 | Sinochem Group | China | Chemicals and Allied Products |
| 10 | China National Chemical Corporation (ChemChina) | China | Chemicals and Allied Products |
| 11 | Huawei Technologies Co, Ltd | China | Communications equipment |
| 12 | Petronas - Petroliam Nasional Bhd | Malaysia | Mining, quarrying and petroleum |
| 13 | Trafigura Group Pte Ltd | Singapore | Wholesale Metals and Minerals |
| 14 | Saudi Aramco | Saudi Arabia | Mining, quarrying and petroleum |
| 15 | State Grid Corporation of China | China | Electricity, gas and water |
| 16 | Formosa Plastics Group | Taiwan Province of China | Chemicals and Allied Products |
| 17 | Legend Holdings Corporation | China | Computer Equipment |
| 18 | América Móvil SAB de CV | Mexico | Telecommunications |
| 19 | Tata Motors Ltd | India | Motor Vehicles |
| 20 | China Communications Construction Company Ltd | China | Construction |
| 21 | Vale SA | Brazil | Mining, quarrying and petroleum |
| 22 | Hanwha Corporation | Korea, Republic of | Wholesale Petroleum and Fuels |
| 23 | China Minmetals Corp (CMC) | China | Metals and metal products |
| 24 | Jardine Matheson Holdings Ltd | Hong Kong, China | Wholesale Durable Goods |
| 25 | Aluminum Corporation of China (Chalco) | China | Mining, quarrying and petroleum |
| 26 | Singapore Telecommunications Ltd | Singapore | Telecommunications |
| 27 | Naspers Ltd | South Africa | Telecommunications |
| 28 | Wilmar International Limited | Singapore | Food & beverages |
| 29 | Geely (Zhejiang Geely Holding Group) | China | Motor Vehicles |
| 30 | China State Construction Engineering Corp Ltd (CSCEC) | China | Construction |
| 31 | CapitaLand Ltd | Singapore | Construction |
| 32 | Guangzhou Yuexiu Group Co., Ltd. | China | Construction |
| 33 | Hyundai Motor Company | Korea, Republic of | Motor Vehicles |
| 34 | Cemex S.A.B. de C.V. | Mexico | Building materials |
| 35 | Fosun International Limited | China | Metals and metal products |
| 36 | New World Development Ltd | Hong Kong, China | Construction |
| 37 | Sun Hung Kai Properties Ltd | Hong Kong, China | Construction |
| 38 | Lukoil OAO | Russian Federation | Petroleum Refining and Related Industries |
| 39 | Shougang Group | China | Metals and metal products |
| 40 | China North Industries Group | China | Other Transportation Equipment |
| 41 | First Pacific Company Ltd | Hong Kong, China | Food & beverages |
| 42 | China Power Construction Group Co., Ltd. (PowerChina) | China | Construction |
| 43 | Sasol Limited | South Africa | Chemicals and Allied Products |
| 44 | Lenovo Group Ltd | China | Computer Equipment |
| 45 | Gazprom JSC | Russian Federation | Mining, quarrying and petroleum |
| 46 | Oil and Natural Gas Corp Ltd | India | Mining, quarrying and petroleum |
| 47 | Midea Group Co Ltd | China | Electric equipment |
| 48 | Ooredoo QSC | Qatar | Telecommunications |
| 49 | China Three Gorges Corp | China | Electricity, gas and water |
| 50 | Genting Bhd | Malaysia | Hotels and restaurants |
| 51 | Weichai Holding Group Co., Ltd. | China | Industrial and Commercial Machinery |
| 52 | China General Nuclear Power | China | Electricity, gas and water |
| 53 | Etisalat - Emirates Telecom Corp. | United Arab Emirates | Telecommunications |
| 54 | Quanta Computer Inc | Taiwan Province of China | Computer Equipment |
| 55 | Dalian Wanda Group | China | Construction |
| 56 | POSCO | Korea, Republic of | Metals and metal products |
| 57 | Fomento Economico Mexicano SAB | Mexico | Food & beverages |
| 58 | SK Holdings Co Ltd | Korea, Republic of | Petroleum Refining and Related Industries |
| 59 | JBS SA | Brazil | Food & beverages |
| 60 | Abu Dhabi National Energy Co PJSC (TAQA) | United Arab Emirates | Electricity, gas and water |
| 61 | DP World Limited | United Arab Emirates | Transport and storage |
| 62 | HNA Technology Co Ltd | China | Electronic components |
| 63 | Mobile Telecommunications Company KSC (Zain) | Kuwait | Telecommunications |
| 64 | YTL Corporation Bhd | Malaysia | Construction |
| 65 | Pegatron Corporation | Taiwan Province of China | Computer Equipment |
| 66 | Flex Ltd | Singapore | Electronic components |
| 67 | Sabic - Saudi Basic Industries Corp. | Saudi Arabia | Chemicals and Allied Products |
| 68 | MTN Group Ltd | South Africa | Telecommunications |
| 69 | Haier Smart Home Co Ltd | China | Household Appliances |
| 70 | CLP Holdings Ltd | Hong Kong, China | Electricity, gas and water |
| 71 | Shangri-La Asia Ltd | Hong Kong, China | Hotels and restaurants |
| 72 | Hindalco Industries Ltd | India | Metals and metal products |
| 73 | Yankuang Group Co., Ltd. | China | Mining, quarrying and petroleum |
| 74 | Cofco Corp | China | Food & beverages |
| 75 | WH Group Limited | Hong Kong, China | Food & beverages |
| 76 | Hyundai Mobis | Korea, Republic of | Motor Vehicles |
| 77 | Galaxy Entertainment Group Ltd | Hong Kong, China | Hotels and restaurants |
| 78 | Rosneft | Russian Federation | Mining, quarrying and petroleum |
| 79 | Kia Motors | Korea, Republic of | Motor Vehicles |
| 80 | Shenzhen International Holdings Limited | Hong Kong, China | Transport and storage |
| 81 | Ternium SA | Argentina | Metals and metal products |
| 82 | Axiata Group Bhd | Malaysia | Telecommunications |
| 83 | Doosan Corp | Korea, Republic of | Electronic components |
| 84 | China Huaneng Group | China | Electricity, gas and water |
| 85 | Olam International Ltd | Singapore | Food & beverages |
| 86 | Sembcorp Industries Limited | Singapore | Electricity, gas and water |
| 87 | Grupo Bimbo SAB de CV | Mexico | Food & beverages |
| 88 | Beijing Capital Group Co., Ltd. | China | Electricity, gas and water |
| 89 | China Energy Engineering Corporation | China | Electricity, gas and water |
| 90 | LG Electronics Inc. | Korea, Republic of | Consumer electronics |
| 91 | Pou Chen Corp | Taiwan Province of China | Textiles, clothing and leather |
| 92 | Wistron Corp | Taiwan Province of China | Computer Equipment |
| 93 | China Molybdenum Co Ltd | China | Mining, quarrying and petroleum |
| 94 | Bharti Airtel Limited | India | Telecommunications |
| 95 | IHH Healthcare Berhad | Malaysia | Health care services |
| 96 | Keppel Corp Ltd | Singapore | Other Transportation Equipment |
| 97 | Steinhoff International Holdings Ltd | South Africa | Retail Trade |
| 98 | Infosys Limited | India | Computer and Data Processing |
| 99 | Compal Electronics Inc | Taiwan Province of China | Computer Equipment |
| 100 | Empresas COPEC SA | Chile | Wholesale Petroleum and Fuels |
* – Data corresponds to the financial year from 1 April 2018 to 31 March 2019.
Source: World Investment Report 2020, UNCTAD
A few observations:
- 44 out of the 100 firms listed above are from China (incl. HongKong)
- The small country of Taiwan is represented by 7 firms mostly from the computer and tech hardware sector
Disclosure: No Positions
