China leads in Fortune Global 500 list of firms

Number of domestic companies exceeds that of US for first time since rankings began in 1990

The latest Fortune Global 500 list reveals more than that Chinese firms outnumber counterparts from the United States, but also demonstrates how China's private sector is reshaping the global business landscape, experts said.

Chinese companies accounted for 129 of the world's 500 largest corporations by revenue, according to the list published on Monday, exceeding the US, at 121, for the first time since the rankings began in 1990.