The 2025 Fortune China 500 list has been announced, with State Grid securing the top position once more, boasting revenues of $548.4 billion. China National Petroleum Corporation (CNPC) and Sinopec trail closely behind, occupying the second and third spots, respectively. China State Construction Engineering Corporation follows in fourth place, while Industrial and Commercial Bank of China (ICBC) rounds out the top five. Notably, ICBC maintains its dominance in profitability, leading the pack in this category. Among the top ten most profitable companies, five commercial banks and CNPC are joined by four private enterprises: Taiwan Semiconductor Manufacturing Company (TSMC), Tencent, Alibaba, and Ping An Insurance. Collectively, these ten companies amassed profits of approximately $311.5 billion, accounting for a substantial 41% of the total profits generated by all companies on the list.