Oil majors dominate ranking
Chinese oil majors China Petrochemical Corp and China National Petroleum Corp (CNPC) remain the country’s two largest companies by revenue, according to an annual ranking based on a survey by the China Enterprise Confederation and the China Enterprise Directors Association.
Revenue at China Petrochemical, the parent of Hong Kong-listed Sinopec, rose 4 per cent to 2.95 trillion yuan (HK$3.7 trillion) last year while CNPC, the parent of PetroChina, posted a top-line increase of 3 per cent for the period.
Utility giant State Grid Corp clinched the third place in the list of 500 largest companies in the country.
Jack Ma Yun’s Alibaba Group Holding was not included in the survey as it has not submitted relevant documents to the committee.