Alibaba Ranks Second on Fortune’s Change the World List for 2020

(Source: Fortune)

Fortune recently released the Change the World list for 2020 with Chinese tech giant Alibaba ranking second.

Two Chinese companies were among the 53 companies mentioned this year. Alibaba ranked second and Chinese leading EV manufacturer NIO ranked 47th.

Fortune evaluated Alibaba Group as second due to the company’s contributions to public health and the economic opportunities it has brought to society.

Shanghai-based NIO revolutionized the electric vehicle industry with its battery as a service (BaaS) announced this summer, which proposed a way to lower cost as well as solve customers’ anxiety in a society currently lacking sufficient charging infrastructure.

The list in 2019 included 3 Chinese companies, Baidu, Alibaba and Chinese automobile manufacturer BYD.

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The 2020 list is built upon one principle that the profit motive can inspire companies to take on social responsibility while also collaborate with other companies to race against global challenges including the pandemic, climate changes, income inequality, etc.

“The Vaccine Makers” as a group topped the list this year. Nearly 200 possible COVID-19 vaccines are currently in development, 39 in human clinical trials and 9 in phase III trials, according to Fortune.