By Hong Soon-do, Beijing correspondent, AsiaToday - Energy companies prominently appeared on the Top 500 Chinese Enterprises list along with ICT companies.

Leading Chinese newspaper Beijing Times reported on Sunday that the 2015 China Top 500 Enterprises list was released on Saturday with energy companies and ICT companies dominating the list.  

China Petrochemical Corp., known as SINOPEC, has been confirmed to be the biggest company in China./ Source from search engine Baidu

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Of course, the largest company in China took the first spot. The annual list compiled by the China Enterprise Confederation shows that oil giant China Petroleum & Chemical Corp., known as SINOPEC, ranks first with annual revenues of whopping 2.88 trillion yuan (520 trillion won). SINOPEC has now held the top spot for 11 straight years. Ranking behind SINOPEC in second place is another oil company China National Petroleum Corporation (CNPC). State Grid, China's largest electric utilities company, came in third place. State Grid is followed by Industrial and Commercial Bank of China, China Construction Bank, China Construction, Agricultural Bank of China, Bank of China, China Mobile, and Shanghai Automotive. As you can see, energy companies are dominating the list.

More importantly, many ICT companies are seen on the list. China Mobile is the ninth largest conglomerates in China companies. ICT-based online companies such as Jingdong Mall, Tencent, Baidu, Alibaba, and Langchao got into the top 500 list. On the other hand, Xiaomi, which has created a sensation with smartphones, failed to be on the list. This means, it's not easy for a company to be on the China Top 500 Enterprises list.

China has a huge domestic market. Game company CEO Li Tianning said, "If your business becomes successful in China, a huge reward will be followed. Your company could immediately become one of the conglomerates." Just like he said, it's not that hard for a small enterprise to become a conglomerate if it works out well. Therefore, being on the China's top 500 list means advancing to the top global companies. In fact, nearly 20 companies on the China's 500 list are also on the world's 500 largest companies list. Perhaps, this is why most of Chinese companies are competing fiercely in order to be on the China's top 500 enterprises list.