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Two State-owned oil giants led the list of top 500 Chinese enterprises released on July 31 by the Fortune China.

In total, the 500 companies achieved 33.54 trillion yuan (US$4.9 trillion) in revenues and 2.8 trillion yuan (US$416 billion) in profits, up 9 percent and 2.2 percent respectively from last year.

China Petrochemical Corporation (Sinopec Group) and China National Petroleum Corporation (CNPC) ranked first and the second, with combined revenue accounting for one-tenth of the total earned by the top 500 enterprises.

China State Construction Engineering Corporation Limited (CSCEC), China's largest construction and real estate conglomerate and biggest building works contractor, was third.

SAIC Motors ranked fourth, followed by Ping An of China, a non State-owned financial services provider.

Noteworthy is the fact there were 56 real estate developers on the list, eight more than last year.

The Industrial and Commercial Bank of China remained the biggest money maker with a net margin of 278.2 billion yuan (US$41 billion), 0.4 percent up from last year.

Tencent and Alibaba Group were the most profitable private enterprises. The accumulated revenues generated by the Internet service industry increased 36.7 percent.

The Top 10:

China Construction Bank

China Construction Bank [File photo]

Revenue: 605 billion yuan (US$90 billion)

Profit: 231.4 billion yuan (US$34 billion)

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