Chinese internet giants Tencent and Alibaba have become two of the top 10 most profitable companies in the country, according to China's latest Fortune 500 list, released on Tuesday.
The list, compiled by Fortune China and CICC Wealth Management, examines the performance and achievements of China's largest listed companies over the past year.
The 500 companies on the list saw total revenue of 39.65 trillion yuan ($5.96 trillion), up 18.22 percent from the previous year. Net profit rose 24.24 percent to 3.48 trillion yuan. The threshold of annual revenue for being included in this year's list is 13.86 billion yuan, up 22.44 percent from a year earlier.
Let's take a look at the top 10 most profitable companies in China.
No 1 Industrial and Commercial Bank of China
Profits: 286.01 billion yuan
No 2 China Construction Bank
Profits: 242.26 billion yuan
No 3 Agricultural Bank of China
Profits: 192.96 billion yuan
No 4 Bank of China
Profits: 172.41 billion yuan
No 5 China Mobile
Profits: 114.28 billion yuan
No 6 Ping An Insurance (Group) Co
Profits: 89.09 billion yuan
No 7 Tencent Holdings Ltd
Profits: 71.51 billion yuan
No 8 Bank of Communications
Profits: 70.22 billion yuan
No 9 China Merchants Bank
Profits: 70.15 billion yuan
No 10 Alibaba Group Holding Ltd
Profits: 67.07 billion yuan