Despite slowing economic growth, China has more companies on Fortune's Global 500 list of the world's top firms than Asian rival Japan. In its annual rankings released Tuesday, Fortune magazine lists 73 companies in China, second only to the United State’s 132. Japan is in third place with 68 companies in the top 500. To qualify for this year’s rankings, companies had to report earnings of at least $22 billion last year. China’s largest company, oil producer and refiner Sinopec Group, was the best performer at No. 5 overall, due to increased production of crude oil and natural gas, according to Fortune. The company, better known as China Petroleum and Chemical Corp., had revenues of $375 billion in 2011. However, as the BBC reports, China has cut retail fuel prices by about 5% this week, which could affect the company going forward. Other Chinese companies in the top ten include China National Petroleum and state-owned power company State Grid. According to the International Business Times, China has been steadily creeping up on Japan in the rankings, adding 62 businesses to the list since 2002. From last year, China added 11 companies to reach its record-high 73. The Industrial and Commercial Bank of China, which was recently named the world’s most profitable bank, ranked as the third most-profitable company on the list behind two energy companies, Russia’s Gazprom and the U.S.’s Exxon Mobil. The rankings reflect a shifting global landscape as the number of companies from the U.S. and Europe fell this year. There were 11 fewer European companies on the list as the Euro Crisis continues to take a toll on economic performance. The United States dropped 14 companies from the list. |
  About Business 360
CNN International's business anchors and correspondents get to grips with the issues affecting world business, and they want your questions and feedback. Recent Posts
@cnni/business on Twitter Follow CNN for insight and analysis into
the world's business news.
Emirates the world's best airline - @EtihadAirways the best First Class for the 4th consecutive year in the #Skytrax awards.
Emirates named World’s Best Airline at the Skytrax awards in Paris. A word with the president in Paris o#Questst tonight.
Many thanks to our experts: @HelenClarkUNDP @OECDeconomy @shaunrein @lemos_ronaldo for joining #emergeCNN
updated 2202 GMT, Jun 18
  |
 |
|
© 2011 Cable News Network. Turner Broadcasting System, Inc. All Rights Reserved.
Second paragraph: 73 "countries" in China?
Well gee, they only have what, 10 times more people? I'm shocked and awed by China.
As a Chinese , I want to say most of them are country's company . Government protects them.
Chocolate C.
Someone is bitter. USA is still top in the list. There you go. Feeling better now?
American companies and banks made their money from slavery,military arm sales and manufacturing,the fake american dream,wars,debt,shady marketing and essentially lies.
He means state owned companies, which usually were thought to be monopolistic by normal chinese.
It's not the Global Fortune 500, it's the Fortune Global 500. It's also not referred to as the Fortune 500 – that's a list of the 500 largest US-based companies; this is shorthanded as the Global 500.
I'm sorry if I believe that journalism should be accurate. Wait – no I'm not.
@Hmm: "USA is still top in the list. There you go. Feeling better now?"
Umm... Royal Dutch Shell is not an American company. It's based in the Netherlands – specifically, The Hague.
@Jacob
He was referring to the total amount of fortune 500 companies, the U.S. leads with 132/500
Reblogged this on That Is My Viewpoint.
@Jake C: Ah, good point. My mistake. I interpreted "top in the list" in a different way.
Apologies, @Hmm.
So what?
Most french big companies are also in the hands of governements.
CHina and France are so called national economies.
And
They win.
You bite China and France.
hahahahahahahahahahahahahahahahahahahahahahahahahahaha
Mainland China will overtake the US in Fortune 500 list in about 2025.
Besides, Mainland China has millions of small civilian businesses; they are getting commercial experiences, growing and becoming stronger.
Strangest way to the marriage application
http://www.elearning-directory.com/arabic-see2