A part of the Fortune China 500 List shows that state-owned companies topped the list. (Photo : www.gbtimes.com)
For the first time, Alibaba Group Holding Ltd. has been ranked in 81st position in the list of Fortune China 500 companies.
The list is compiled using the gross revenue of companies, which showed that Alibaba earned more than 70 billion yuan ($11.3 billion) in 2014.
The report, however, said that Alibaba is lower than its domestic e-commerce rival, JD.com Inc., which occupied the 79th position last year but was ranked 45th now.
According to the report, JD posted 115 billion yuan in revenue last year, an increase of 66 percent from a year earlier, which made JD the highest-ranking Chinese Internet enterprise on the list.
As the country's largest direct sales online retailer, a significant amount of transactions on JD.com site are counted as revenue, while Alibaba, which functions as a platform to connect buyers with sellers, in comparison, does not sell goods.
The Fortune report said that companies in the Internet industry are growing at the fastest pace and the revenue growth rate of listed online enterprises is on average 40 percent, higher than the average 5-percent growth of all the listed companies.
Commercial property developer Dalian Wanda Group Holdings Ltd. was ranked 51 from among the 53 new entrants on the list this year. WH Group Ltd., the nation's largest pork producer, is listed in 35th position.
The Industrial and Commercial Bank of China Ltd. was on top of the list with 275.8 billion yuan, in terms of profit-making ability, beating Apple Inc., the most profitable company in the United States, which raked in $39.5 billion in revenue in 2014.
According to the magazine, the combined gross revenue of the top 500 Chinese companies has amounted to 30.4 trillion yuan, accounting for nearly half of China's GDP.
China International Capital Corporation Ltd., which assisted Fortune in compiling the list, said that the rankings showed that despite the economic slowdown, emerging industries such as Internet-related service providers and the pharmaceutical sector are developing and growing quickly.
