Tech giants Alibaba Group and Tencent Holdings are among 10 new Chinese firms to be added to the latest Fortune Global 500 list.
Alibaba ranks 462 and Tencent 478 on this year’s ranking and the other new Chinese companies are Anbang Insurance Group, Hengli Group, Yango Financial Holding, Country Garden Holdings, Suning Commerce Group, Xiamen C&D, Xiamen ITG Holding Group, and Xinjiang Guanghui Industry Investment.
The US has 132 companies listed, followed by China with 115 and Japan with 51. Walmart, the retailing giant, topped the list for the fourth straight year with a massive US$485 billion in revenue in 2016.
It is followed by three Chinese companies: State Grid, Sinopec Group and China National Petroleum.
Toyota, Volkswagen, Royal Dutch Shell, Berkshire Hathway, Apple and Exxon Mobil complete the top 10.
Companies are ranked by total revenues for their respective fiscal years ended on or before 31 March, 2017. All companies on the list must publish financial data and report part or all of their figures to a government agency. Figures are as reported, and comparisons are with the prior year’s figures as originally reported for that year, according to Fortune magazine website.
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