(Yicai Global) July 21 -- Fortune Magazine released its latest ranking list of the Fortune Global 500 yesterday.
Wal-Mart Stores Inc. [NYSE:WMT] comes in first for the fourth consecutive year, followed by the State Grid Corp. of China, China Petrochemical Corp. [NYSE:SNP], China National Petroleum Corp. PetroChina [NYSE:PTR] and Toyota Motor Corp. [NYSE:TM], exactly in that order.
Apple Inc. [NYSE: APPL] tops the profit list, with the other four of the top five all Chinese commercial banks: Industrial and Commercial Bank of China Ltd. [SHA:601398], China Construction Bank Corp. [SHA:601939], Agricultural Bank of China Ltd. [SHA:601288] and Bank of China Ltd. [SHA:601988]. Two Chinese Internet service companies, Alibaba Group Holding Ltd. [NYSE: BABA] and Tencent Holdings Ltd. [HKG: 00700], also made it onto the list for the first time.
In the return on equity (ROE) list, the highest-ranked Chinese companies are Huawei Technologies Co., Midea Group Co. [SHE:000333], Tencent, Zhejiang Geely Holding Group Co. and Vanke Co. [SHE:000002]. Midea, a Chinese household appliance company, was first inducted into the Fortune Global 500 last year. It remains the only listed concern in its industry this year. Fang Hongbo, the company's chairman and president, was distinguished as 'Chinese businessman of the Year' earlier this year by Fortune Magazine (Chinese Edition).
Of the world's six major Internet service companies, China contributes three, including new entrants Alibaba and Tencent, as well as Jingdong Inc. [NASDAQ:JD] which first edged into the list last year. The remaining three are all from the US, including Amazon.com Inc. [NASDAQ:AMZN], Google's parent company Alphabet Inc. [NASDAQ:GOOGL] and Facebook Inc. [NASDAQ:FB], a social media giant debuting on the list this year.