A record 69 Chinese companies are listed on the Fortune Global 500 this year, with China overtaking Japan as the second largest country for Fortune 500 enterprises, trailing only the United States.
Of the Chinese companies on the list, 61 are based on the Chinese mainland, 15 more than last year and the eighth consecutive year that the figure has risen, Fortune magazine said. The remainder come from Taiwan and Hong Kong.
Three Chinese enterprises - Sinopec Group, China National Petroleum Corp and State Grid Corp of China - remained in the top 10.
Their rankings rose over last year on the magazine's list of the world's biggest companies.
Sinopec moved from seventh in 2010 to fifth this year; China National Petroleum from 10th to sixth and State Grid from eighth to seventh.
There are 133 United States companies and 68 Japanese enterprises on this year's list. The number of US firms has been declining for nine consecutive years since its record of 197 in 2002.
European companies maintained a strong presence, with 35 French companies and 34 German companies, Fortune magazine said.
Companies from India, Russia, Brazil, and other growing economies were also moving up in the rankings, it said.
The Fortune Global 500 list tracks companies' annual revenues for the previous year.
The total revenue of the 61 Chinese mainland companies on the list hit US$2.89 trillion last year, accounting for 47.8 percent of the country's gross domestic product, Fortune said. Their combined profit totaled US$176.1 billion.
The 133 US companies on the list chalked up cumulative revenue of US$7.66 trillion in 2010, making up 52.3 percent of the nation's GDP. Profit totaled US$484.4 billion.
Chinese mainland companies on the list were in 22 industries while their US counterparts were from 35 sectors, Fortune magazine said.
"Compared with US companies, Chinese enterprises cluster in such sectors as energy and metals, so there's still a long way for them to boost competitiveness on an overall basis," said Michael Wu, an analyst with the Bank of China.
"In addition, the average revenue and profit of Chinese companies on the list still lagged behind US peers."
Four Shanghai-based firms appear on this year's list - Shanghai Automotive Industry Corp, Baosteel Group, China Pacific Insurance Group and the Bank of Communications.
The top four rankings remained the same as last year. Wal-Mart Stores continued to stay on top, followed by Royal Dutch Shell, Exxon Mobil and BP.
The combined profits of the Fortune Global 500 companies in 2010 increased 59 percent from 2009.
Of the Chinese companies on the list, 61 are based on the Chinese mainland, 15 more than last year and the eighth consecutive year that the figure has risen, Fortune magazine said. The remainder come from Taiwan and Hong Kong.
Three Chinese enterprises - Sinopec Group, China National Petroleum Corp and State Grid Corp of China - remained in the top 10.
Their rankings rose over last year on the magazine's list of the world's biggest companies.
Sinopec moved from seventh in 2010 to fifth this year; China National Petroleum from 10th to sixth and State Grid from eighth to seventh.
There are 133 United States companies and 68 Japanese enterprises on this year's list. The number of US firms has been declining for nine consecutive years since its record of 197 in 2002.
European companies maintained a strong presence, with 35 French companies and 34 German companies, Fortune magazine said.
Companies from India, Russia, Brazil, and other growing economies were also moving up in the rankings, it said.
The Fortune Global 500 list tracks companies' annual revenues for the previous year.
The total revenue of the 61 Chinese mainland companies on the list hit US$2.89 trillion last year, accounting for 47.8 percent of the country's gross domestic product, Fortune said. Their combined profit totaled US$176.1 billion.
The 133 US companies on the list chalked up cumulative revenue of US$7.66 trillion in 2010, making up 52.3 percent of the nation's GDP. Profit totaled US$484.4 billion.
Chinese mainland companies on the list were in 22 industries while their US counterparts were from 35 sectors, Fortune magazine said.
"Compared with US companies, Chinese enterprises cluster in such sectors as energy and metals, so there's still a long way for them to boost competitiveness on an overall basis," said Michael Wu, an analyst with the Bank of China.
"In addition, the average revenue and profit of Chinese companies on the list still lagged behind US peers."
Four Shanghai-based firms appear on this year's list - Shanghai Automotive Industry Corp, Baosteel Group, China Pacific Insurance Group and the Bank of Communications.
The top four rankings remained the same as last year. Wal-Mart Stores continued to stay on top, followed by Royal Dutch Shell, Exxon Mobil and BP.
The combined profits of the Fortune Global 500 companies in 2010 increased 59 percent from 2009.
