The booth of Alibaba at an exhibition. [Photo/Tide News]

Nine companies headquartered in Hangzhou have secured spots on the 2026 Fortune Global 500 list, underscoring the city's strength in both advanced technology and manufacturing.

The companies are long-time members of the ranking, with six improving their positions from last year. Zhejiang Communications Investment Group climbed 21 places, Zhejiang Hengyi Group rose 19, Geely Holdings advanced 17, Hailiang Group moved up nine, Alibaba climbed seven, and Rongsheng Holding gained three places.

Alibaba entered the global top 60 for the first time, ranking 56th, driven by continued investment in AI infrastructure and instant retail. The company has scaled up production of its in-house AI chips and seen strong growth in AI-related businesses. Hangzhou is now home to more than 500 AI companies, with the city's core AI industry generating over 460 billion yuan ($68 billion) in revenue in 2025.

Geely Holdings also posted its best-ever result, ranking among China's top three automotive companies on the list. The automaker sold more than 4 million vehicles in 2025, entering the world's top 10 by sales as it accelerated its transition to new energy vehicles.

Officials say the presence of nine Fortune Global 500 headquarters reflects Hangzhou's growing industrial ecosystem, where digital innovation and advanced manufacturing increasingly reinforce each other through collaboration in fields such as AI, smart mobility and industrial intelligence.

The manufacturing base of Geely Holdings in Qiantang district. [Photo/Tide News]