“Two years after eclipsing Japan as the world’s second-largest economy, China stole the number-two spot on the Fortune 500 list of the biggest global companies from its Asian rival.
In its annual revenue rankings, Fortune magazine said that China overtook Japan for the first time, landing 73 companies on the list compared with Japan’s 68 companies.
Anglo-Dutch energy giant Royal Dutch Shell retook the top spot, knocking off US retail titan Wal-Mart from a two-year reign with 2011 revenues of $484.5 billion, up 28.1 percent from 2010.
The remaining members of the top 10 are, in descending order: ExxonMobil (US); Wal-Mart Stores (US); Britain’s BP; Chinese companies Sinopec Group, China National Petroleum and State Grid; Chevron (US); ConocoPhillips (US) and Japan’s Toyota Motor.
“Although the US still hosts the lion’s share of Global 500 corporations, no country has lost more companies during the last decade. There are 132 US-headquartered businesses on this year’s list, down from 197 a decade ago,” the US business magazine said.”
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