A record 110 Chinese companies have squeezed onto the latest Fortune Global 500 list, 12 of which made their debut, including manufacturing powerhouse CRRC Corporation Limited, e-commerce juggernaut JD.com, home appliance maker Midea and property developer Wanda.
Experts said that it is not surprising for more Chinese companies to be listed, because of the country's relentless efforts to upgrade manufacturing, boost innovation and drive consumption.
Three of the top five companies on the list are from China. State Grid rose to second place from seventh last year, surpassing the State-owned energy giants China National Petroleum Corp and Sinopec Group.
State Grid, generating $329.6 billion in sales last year, attributed its performance to successful investment strategies and research and development input.
CRRC Corporation Limited, which ranks 266, has grown into a leading global supplier of bullet trains and subway cars.
Factbox
Twelve Chinese companies have appeared on the Fortune Global 500 list for the first time
266 CRRC
349 China State Ship Building
356 China Vanke
366 JD.com
381 China Aerospace Science and Industry
385 Dalian Wanda Group
408 China Electronics Technology Group
427 New China Life Insurance
473 CK Hutchison Holdings 481 Midea Group
495 WH Group
496 Evergrande Real Estate Group
