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54 Chinese firms in Fortune Global 500
By Wang Yanlin |
July 9, 2010, Friday
|
Online Edition
Online Edition
A RECORD 54 Chinese companies were listed on the Fortune Global 500 list this year, with three in the top 10, reflecting the growing power of Chinese firms.
China Petroleum & Chemical Corp, known as Sinopec, State Grid Corp of China and China National Petroleum Corp were on the top 10. Last year, only Sinopec made the grade.
The overall number of Chinese firms in the list increased from last year's 43 to 54, among which eight were from Taiwan Province. This makes China the third largest home to Fortune Global 500 companies, after the United States and Japan.
Firms newly listed in the Fortune Global 500 included China Datang Group, China Guodian Corp and Asustek Computer Inc. Aircraft manufacturer Aviation Industry Corporation of China, or AVIC, which was listed for the first time at 426th last year, took 330th place this year.
Four Shanghai-based firms made the list - Shanghai Automotive Industry Corp, Baosteel Group, China United Network Communications Ltd and the Bank of Communications.
Globally, first place was taken by Wal-Mart Stores, followed by last year's champion Royal Dutch Shell. Exxon Mobil fell one place from last year's position to third.
The rankings remained dominated by oil companies, with half of the firms in the top 10 related to fuel exploration and refinery.
The Fortune Global 500 is an annual list compiled and published by Fortune magazine to gauge the clout of companies worldwide by their revenues.
China Petroleum & Chemical Corp, known as Sinopec, State Grid Corp of China and China National Petroleum Corp were on the top 10. Last year, only Sinopec made the grade.
The overall number of Chinese firms in the list increased from last year's 43 to 54, among which eight were from Taiwan Province. This makes China the third largest home to Fortune Global 500 companies, after the United States and Japan.
Firms newly listed in the Fortune Global 500 included China Datang Group, China Guodian Corp and Asustek Computer Inc. Aircraft manufacturer Aviation Industry Corporation of China, or AVIC, which was listed for the first time at 426th last year, took 330th place this year.
Four Shanghai-based firms made the list - Shanghai Automotive Industry Corp, Baosteel Group, China United Network Communications Ltd and the Bank of Communications.
Globally, first place was taken by Wal-Mart Stores, followed by last year's champion Royal Dutch Shell. Exxon Mobil fell one place from last year's position to third.
The rankings remained dominated by oil companies, with half of the firms in the top 10 related to fuel exploration and refinery.
The Fortune Global 500 is an annual list compiled and published by Fortune magazine to gauge the clout of companies worldwide by their revenues.
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