OREANDA-NEWS. With a turnover of 298.4 billion U.S. dollars, SGCC ranked 7th once again on Fortune Global 500 released by Fortune Magazine on July 8th. The Sinopec Group and the CNPC ranked 4th and 5th with a turnover of 428.1 billion U.S. dollars and 408.6 billion U.S. dollars respectively.

The Chinese Mainland (not including Taiwan and Hong Kong) has a total of 85 companies listed in the Fortune 500 rankings, an increase of 16 companies compared to last year. The number of Chinese companies listed has been going up for 10 consecutive years. American companies still constitute the majority of the companies ranked, with a total of 132, the same with last year, followed by Japan, with a total of 62. If Taiwanese and HK companies were included, China would possess 95 companies in the Fortune Global 500, second only to the U.S. China has shown a strong momentum with improvement both in the number and the overall ranking.

This year, the threshold for being nominated as part of the Fortune Global 500 was getting higher at around 23.17 billion dollars, an increase of 1.17 billion dollars compared to the 22.0 billion dollar threshold in the previous year. The list of Chinese mainland companies includes 44 central SOEs managed by SASAC, adding 2 compared than last year. 7 private companies made to the list, 2 more than last year.