A record number of Chinese companies have made it onto the latest Fortune Global 500 list, with tech leaders Alibaba and Tencent joining for the first time China’s traditional energy and banking giants. A total of 115 Chinese firms made the cut, 10 more than a year before, putting China second behind the United States, which had 132 companies on the list, two fewer than last year, Caixin reports. Japan saw 51 of its firms among the Global 500, which was published Thursday and which Fortune compiles based on the companies’ annual revenues. The inclusion of China’s top e-commerce company Alibaba, at No. 462, and internet giant Tencent Holdings, at No. 478, was striking, as JD.com was the only Chinese internet firm on the list last year. Although JD.com managed to raise its rank to No. 261, up from 366 a year ago, it nevertheless saw the largest financial loss this year among the Chinese companies on the list.
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