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FarCenter

(19,429 posts) Mon Jul 9, 2012, 10:58 AM Jul 2012

China overtakes Japan in Fortune 500 ranks

China overtook Japan on the Fortune Global 500 for the first time on the list of the world's biggest companies by revenue, the US business magazine said Monday.

While US companies held the plurality of slots on the list, with 132 US firms featured, Chinese companies came in second, with 73, followed by 68 Japanese companies.

China's ascent marked the addition of 12 companies to the prestigious list, while the number of European firms fell to 161 from 172 in 2011.

Anglo-Dutch energy giant Royal Dutch Shell retook the top spot this year, knocking off US retail titan Wal-Mart from a two-year reign.

Eight energy businesses dominated the top 10, three of them Chinese companies; Sinopec Group, China National Petroleum and State Grid.

http://www.france24.com/en/20120709-china-overtakes-japan-fortune-500-ranks

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