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Sinopec ranks second on Fortune Global 500

Fortune on Monday unveiled the Global 500 list for this year, with Walmart in the top spot for the sixth consecutive year, followed by China Petrochemical Corp, or Sinopec, in second place, Shell in third, China National Petroleum Corp in fourth and State Grid Corp of China the fifth placed. A total of 129 Chinese companies are among the Global 500 this year, which surpassed 121 from the United States for the first time. Compared with last year's list, a total of 25 companies, including 13 from China, were newly listed. They include China Development Bank, CRRC Corp Ltd, Tsingshan Holding Group, Jinchuan Group Co Ltd, Gree Electric Appliances Inc, Anhui Conch Group Co Ltd, Huaxia Life Insurance Co Ltd and Xiaomi Corp. As a leading smartphone maker in China, Xiaomi was listed for the first time and thus became the youngest firm among the 500, with a ranking of 468th.

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