Sinopec with US$131.64 billion in revenue took 17th place in this year's list to rank as China's top company in the Fortune Global 500 list. That's up 6 places from last year.

China Railway Construction jumped from no. 586 to no. 485 making it the biggest gainer.

"Among the new comers, three are from the mainland  China Minmetals, China National Offshore Oil Corporation and China Ocean Shipping."

China's companies were predominately "big state-owned enterprises in the petroleum, electrical power, banking, IT, trading, insurance, metallurgy, automobile, and construction industries."

Wal-Mart regained the top position.

Big Oil dominated the top ten with  

Royal Dutch Shell at No 3,

BP at No.4,

Chevron at No. 7,

ConocoPhillips at No.9

Total at No. 10.

Half of the top ten are American companies and one-third of the top 500 are based in the United States accounting for about one third of the $21 trillion in revenue. 

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