Business magazine releases China 500 companies list

Business magazine Fortune released its latest China 500 companies list on Tuesday, with the total revenue and profits of the 500 companies hitting $15 trillion (107 trillion yuan) and $717.1 billion in 2022.

State Grid received $530 billion in revenue, taking the first spot in the Fortune China 500 list, followed by China National Petroleum and Sinopec Group with the revenue at $483 billion and $471.15 billion.

The metal products industry has 56 companies in the ranking thereby claiming the largest number of companies on the list.

The top 3 profitable companies are Industrial and Commercial Bank of China (ICBC), China Construction Bank and Agricultural Bank of China, with profits at $53.59 billion, $48.15 billion and $38.52 billion, respectively.

Andon Health, a healthcare electronics manufacturer, has the highest net profit rate of 60.92 percent among the 500 companies.