China's three largest state-owned construction firms made it to the list for the first time, with China Railway Engineering ranking 441, China Railway Construction 485, and China State Construction 486, the latest list of Global Fortune 500 companies published on Wednesday reported.
Shanghai Automotive, at 475, is another new firm and the second Chinese automaker on the list. China First Automotive secures its place, but drops from 448 last year to 470.
All the Chinese mainland firms on last year's list maintain their places this year, with most moving up in ranking. Sinopec, rising from 31 to 23, remains the largest Chinese company on the list. The State Grid, up from 40 to 32, and China National Petroleum, up from 46 to 39, retain second and third Chinese rankings respectively.
The four state-owned commercial banks of China move up substantially on the list from the previous year. The Industrial and Commercial Bank of China jumps from 299 to 199, the Bank of China from 399 to 255, China Construction Bank from 315 to 277, and the Agricultural Bank of China from 397 to 377.
According to Fortune magazine, five of the top 10 companies on the list came from the oil industry. US-based Exxon Mobil, with $339.94 billion in revenue, overtakes Wal-Mart Stores as the world's largest company. The complete list will appear in Fortune's July 24 issue.
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