The Chinese Communist Party (CCP) announced to “consolidate and develop” the public sector economy at its 20th National Congress on Oct. 16. At the congress, it was declared that the “entity economy” should be developed, the “role of the government” should be played, and the public sector should be “consolidated and developed,” as opposed to the non-public sector. The non-public sector economy mainly includes the individual economy, private economy, and foreign capital economy. 
The CCP’s “three-year reform” of the state-owned enterprises (SOEs) concluded this year and has produced a number of “mega” SOEs. There are 136 Chinese companies on the 2022 Fortune Global 500 list, including 99 SOEs, three more than in 2021. Chinese official media reported a total of 145 because nine Taiwanese companies were included in the list. The United States has 124 companies on the list, followed by Japan with 47. …