Chinese Firms Rank Second in Fortune Global 500 List; Cofco Jumps Most; JD.Com Premiers
(Yicai Global) July 22 -- Some 110 companies from China, Taiwan and Hong Kong are included in the Fortune 2016 Global 500 lt of the world's biggest companies by revenue, four more than last year, putting Chinese companies just behind America's in terms of number.While US companies increased to 134 from 128, Chinese firms have narrowed the gap in terms of total revenues. American retail giant Wal-Mart Inc. tops the lt for the third consecutive year, with an operating income of USD482.1 billion in 2015.Three of the largest companies in the world are Chinese. State Grid Corporation of China rose from fifth to second place, with revenue of USD329.6 billion. China National Petroleum Corporation (CNPC) climbed one place to third. China Petroleum and Chemical Corporation (Sinopec) dropped from second to fourth.>Of the 110 Chinese companies, China's biggest food supplier Cofco Corp. made the biggest advance up the rankings to No. 121 from No. 272 last year. JD.Com Inc. [NASDAQ:JD], a major Chinese online retailer, became the first Chinese Internet company to appear in the Fortune Global 500, ranking No. 366 with revenue of USD28.8 billion in 2015.