Private companies edge up in Fortune rankings

More Chinese private companies than ever are finding a place in the Fortune 500 rankings that have been dominated by the big State-owned enterprises.

Of the 100 Chinese companies that are part of the latest ranking, 22 are those in which the government shareholding is less than 50 percent, three more than last year.

Although some of the companies, such as Ping An Insurance, ranked 122 on the list, are still partly owned by the government, the number has grown significantly from 2008, when Lenovo Group was the only private firm on the list.