SOEs keep hold on Fortune 500

Private companies usually perform better when it comes to profitability

State-owned enterprises continue to dominate China's top 500 companies in terms of revenue, but their private counterparts are gaining strength, Fortune Magazine said on Monday.

The total revenue of the 500 companies increased 10.4 percent last year to 28.9 trillion yuan ($4.6 trillion), equivalent to more than half of China's GDP. Total profits were 2.5 trillion yuan.