China is home to some of the world's biggest corporations, many of which play a critical role in energy, finance, infrastructure, and public utilities. According to the 2025 Fortune Global 500 rankings, the country's largest companies generated hundreds of billions of dollars in annual revenue while supporting key sectors of the Chinese economy.
Most of the companies at the top of the list are state-owned enterprises, reflecting the Chinese government's significant influence over strategic industries.
Editor's Note: The rankings are based on annual revenue reported for the 2024 fiscal year in the 2025 Fortune Global 500 list.
Top 5 Chinese Companies by Revenue
| Rank | Company | Industry | Revenue | Profit | Ownership |
|---|---|---|---|---|---|
| 1 | State Grid Corporation of China | Utilities | $548.4 Billion | $10.04 Billion | State-Owned |
| 2 | China National Petroleum Corporation (CNPC) | Oil & Gas | $412.6 Billion | $22.4 Billion | State-Owned |
| 3 | Sinopec Group | Oil & Gas | $407.4 Billion | $8.03 Billion | State-Owned |
| 4 | China State Construction Engineering Corporation (CSCEC) | Construction | $304.1 Billion | $3.66 Billion | State-Owned |
| 5 | Industrial & Commercial Bank of China (ICBC) | Banking | $221.4 Billion | $50.9 Billion | State-Owned |
1. State Grid Corporation of China
With annual revenue of $548.4 billion, State Grid Corporation of China is the country's largest company and one of the biggest corporations in the world by revenue. The utility giant operates China's national electricity transmission network, supplying power to more than one billion people across the country.
- Industry: Utilities
- Revenue: $548.4 Billion
- Profit: $10.04 Billion
- Ownership: State-Owned
2. China National Petroleum Corporation (CNPC)
CNPC is one of the world's largest integrated energy companies. It is involved in oil and gas exploration, refining, transportation, marketing, and petrochemical production, making it a key pillar of China's energy sector.
- Industry: Oil & Gas
- Revenue: $412.6 Billion
- Profit: $22.4 Billion
- Ownership: State-Owned
3. Sinopec Group
Sinopec is among the world's largest petroleum and petrochemical companies. While it competes directly with CNPC, Sinopec focuses heavily on refining crude oil, producing chemicals, and distributing petroleum products throughout China and international markets.
- Industry: Oil & Gas
- Revenue: $407.4 Billion
- Profit: $8.03 Billion
- Ownership: State-Owned
4. China State Construction Engineering Corporation (CSCEC)
CSCEC is the world's largest construction company by revenue. It has played a major role in developing China's modern infrastructure, including skyscrapers, highways, airports, railways, and large international construction projects under the Belt and Road Initiative.
- Industry: Construction
- Revenue: $304.1 Billion
- Profit: $3.66 Billion
- Ownership: State-Owned
5. Industrial & Commercial Bank of China (ICBC)
ICBC is China's largest commercial bank and one of the world's biggest financial institutions by total assets. Although it ranks fifth in revenue, it is the most profitable company on this list, generating nearly $51 billion in annual profit.
- Industry: Banking
- Revenue: $221.4 Billion
- Profit: $50.9 Billion
- Ownership: State-Owned
Why State-Owned Companies Dominate
China's largest corporations are primarily owned or controlled by the government because they operate in industries considered strategically important, including electricity, energy, banking, transportation, and infrastructure. These sectors receive significant state support and play a central role in China's long-term economic development.
Conclusion
The 2025 rankings show that China's biggest companies continue to dominate global business through massive operations in utilities, energy, construction, and finance. Together, these five corporations generate nearly $1.9 trillion in annual revenue, highlighting China's position as one of the world's largest economic powers.
