The number of Chinese companies on this year's Fortune Global 500 list reached 120, very close to America's 126, The Paper.cn reported.

The U.S. retail giant Wal-Mart topped the list, with the State Grid Corporation of China, Sinopec Group and the China National Petroleum Corporation taking second, third and fourth place.

Thirteen Chinese companies entered the list for the first time, including three insurance companies. Chinese real-estate developers were the only firms of their kind on the list.

Tencent Holdings Limited was the most profitable firm in China, with a profit margin of over 30 percent. China’s four major state-owned banks remained among the top 10 most profitable companies.