The latest Financial Times FT500 list of the world's most important companies has 25 Chinese companies, compared with eight last year. China National Petroleum Corporation (CNPC) is the leading company among all Chinese companies figuring in the FT list.

After the top-ranking ExxonMobil of the U.S., CNPC ranks second. It has pushed General Electric down to the third place. China Petrochemical Corporation ascended to 37th from 53rd, and China Mobile moved up from 16th to 5th. China Unicom appeared on the list for the first time, ranked 337th.

Although banking businesses have been slipping in ranks, Chinese banks have enhanced their representation in the elite list. The Industrial and Commercial Bank of China moved up from 9th to 6th, and became the highest ranking bank in the world. China Construction Bank and China Merchants Bank  also made major leaps upward, and so did China Bank of Communications. In addition, CITIC Bank, CITIC Securities, China Minsheng Bank and Shanghai Pudong Development Bankalso joined the Top 500 list this year.

Source:China Knowledge