Chinese companies fill 100 places on the Fortune Global 500 list for 2014 with Sinopec Group taking third spot for the first time.
The Fortune Global 500 released on July 7 featured an unprecedented 100 Chinese companies.
Wal-Mart back to on top, Sinopec rise to third
The top two were Wal-Mart of America and Royal Dutch Shell of the Netherlands. Wal-Mart with $459.6 billion in revenue took over at the top while Royal Dutch Shell, with revenue of $459.6 billion, slipped to second. Sinopec, which replaced ExxonMobil in third place, climbed one notch with revenues of $457.2 billion. It is Sinopec's highest listing.
Of Chinese companies on list, 7 are new
The number of companies from the Chinese mainland, Taiwan and Hong Kong increased to 100 while there are 128 US companies listed, down from 132.
The number of Chinese mainland companies reached a record high, increasing from 89 to 95. Of all Chinese companies on the list last year, only Bailian Group slipped out. Rankings of Chinese companies are also on the increase with Haiwei Investment Holdings moving from 315 to 285 and Lenovo from 329 to 286.
Seven Chinese companies entered the list for the first time, including China Development Bank (122), Pacific Construction Group (166), China Energy Engineering Group (465), China General Technology (Group) Holding, Ltd (469), Bohai Steel Group (327) and China Energy Company Ltd (349). The five most profitable companies were Vodafone, Fannie Mae, Freddie Mac, China Industrial and Commercial Bank and Apple.
Source: ChinaDaily USA
