Telecoms and energy firms put nation on BusinessWeek's Global 1000 table BusinessWeek magazine has included Chinese companies for the first time in its annual Global 1000 index, which ranks firms in 38 economies based on stock-market capitalisation. Six mainland firms joined 15 Hong Kong companies on the list, which also included debut appearances by firms from Malaysia, India, Indonesia and South Korea. The index, published in yesterday's issue, ranked the companies calculated by multiplying their share prices on May 31 by the available number of shares outstanding. Peter Churchouse, a director of investment company Lim Advisors warns against reading too much into the list and a firm's movement year on year. 'The list has nothing to do with returns on investor capital or equity, or any other valuation criterion. It is solely a measure of a company's market value on a given day and nothing else.' China Mobile was the highest-ranking mainland company, at No70, while rival China Unicom registered at 565. Buoyed by China's hunger for fuel, four Hong Kong-listed mainland energy firms also made the grade - CNOOC (ranked 292), PetroChina (656), China Petroleum & Chemical Corp (861) and Citic Pacific (1,000). Of the Hong Kong companies on the list, nine fell from their positions last year. Hutchison Whampoa was the highest-ranking Hong Kong firm at 166, down from 140 a year before. Hang Seng Bank dropped to 195 from 178 and Cathay Pacific Airways to 873 from 857. Two Japanese banks posted the biggest one-year jumps - Mizuho Financial Group from 636 to 85 and UFJ Holdings from 780 to 191 - as new life seeps into the long foundering Japanese banking industry. Mizuho posted a 636 per cent increase in market value while UFJ's market value rose 420 per cent.