Chinese firms ascend global rankings

BEIJING - Chinese firms continue to ascend global rankings as their competitiveness grows with the country's transitioning economy. The Fortune Global 500 list is seeing a China boom this year, the renowned magazine said on its website.

Chinese firms filled an unprecedented 115 places on the 2017 list released last week, only 17 less than the top performer, the United States, and marking the 14th year China has increased its presence on the list.

The Chinese companies making the list were mainly involved in the internet, retail, finance, energy and property sectors.