Fortune releases China's top 100 companies

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 ◆ Fortune releases China's top 100 companies

China Petroleum & Chemical, PetroChina and China Mobile are three biggest publicly traded companies in terms of revenues, according to US business magazine Fortune's 2002 China 100 list.

The magazine announced here recently the release of its second annual list of the largest publicly traded companies in China.

The other seven companies ranked in the top ten are China Unicom, Baoshan Iron & Steel, Legend Group, China Resources Enterprise, CNOOC, Sinopec Shanghai Petrochemical and Sinopec Zhenhai Refining & Chemical

Robert Friedman, Fortune's international editor, noted that although China also felt the effects of the global economic downturn, total profits for this year's ranked companies rose 4 percent over those for last year's list.

In contrast, profits of the largest 500 US companies plunged 53.5 percent.