Fortune 500 list 2017 released with 115 Chinese companies

One hundred and fifteen Chinese companies hit the newly released Fortune 500 list for 2017, realizing an increase for the 14th straight year, domestic website fortunechina.com reported on Thursday.

State Grid Corp and the oil giant Sinopec Corp ranked second and third on the list, respectively, with revenue of $315 billion and $268 billion in 2016, following U.S. retail giant Wal-Mart Stores Inc, which topped the list for the fourth straight year with revenue reaching $486 billion, up 0.8 percent year-on-year.

Besides the financial sector, in which many listed Chinese companies are involved, companies in such sectors as energy, real estate, engineering and architecture also showed up on the list.

There were 10 Chinese companies on the list for the first time, including Anbang Insurance Group, Alibaba Group Holdings, Tencent Holding, Country Garden and others, among which Country Garden was the only property developer, the report said.

In terms of profitability, four big Chinese commercial banks followed Apple Inc.