Twenty Chinese companies, including four newcomers, rank among the 500 largest firms in the world in Fortune magazine's latest Global 500 list to be published on July 24. China's three largest state-owned construction firms made the list for the first time, with China Railway Engineering debuting at 441, China Railway Construction 485, and China State Construction 486. Shanghai Automotive, at 475, also made the list for the first time, but China First Automotive dropped from 448 last year to 470. Sinopec remains the largest Chinese company on the list, rising from 31 to 23, followed by State Grid, up from 40 to 32, and China National Petroleum, up from 46 to 39. China's four state-owned commercial banks also moved up the rankings: Industrial and Commercial Bank of China jumped from 299 to 199, Bank of China from 399 to 255, China Construction Bank from 315 to 277, and Agricultural Bank of China from 397 to 377.
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