U.S. Commerce Secretary Penny Pritzker is leading a group of government officials and senior executives from more than two dozen companies on a visit to China, with a major push on energy and industry.
Those businesses will have a lot of ground to gain if they’re going to catch up with Wynn Resorts Ltd., Yum! Brands Inc., Apple Inc. and other members of the Standard & Poor’s 500 Index that get a significant proportion of revenue from the world’s No. 2 economy.
The attached chart shows companies in the S&P 500 with the largest segment of sales from China in the quarter they most recently reported. Las Vegas-based Wynn got 67 percent from Greater China -- more specifically it’s casino properties in Macau, according to data compiled by Bloomberg. Yum, owner of the KFC and Pizza Hut restaurant chains, generated the majority of its sales from China, where it’s still recovering from a food-safety issue when a vendor was probed for allegedly altering expiration dates on meat.
Apple got 22 percent of revenue from Greater China in the three months to Dec. 27, compared to 41 percent from the Americas, the data show. That 22 percent is almost double the proportion that Apple got from China in fiscal 2011 and was worth $16.1 billion.
Most companies in the S&P Index don’t provide the geographic breakdown in their financial statements to track sales in China. Among the largest companies represented on the trade delegation, General Electric Co. got 16 percent of revenue from all of Asia, aluminum producer Alcoa Inc. 2.4 percent from China, and Honeywell Inc. 19 percent from outside the U.S. and Europe, Bloomberg data show.
— With assistance by Nick Wadhams