China's top 100 companies

Banks with hot IPOs, plus surging energy demand, propelled a dozen new arrivals onto our list of China's largest companies.

(Fortune Magazine) -- A rush of listings on the Hong Kong and Shanghai exchanges added a dozen newcomers to Fortune's annual list of China's 100 largest publicly traded companies. One of them had the largest share offering in the world: Industrial & Commercial Bank of China, which raised $21.9 billion last October. As China's biggest bank by revenue and Asia's most profitable bank, with profits of $6.2 billion last year, it grabbed the No. 4 spot on this year's list.

The Bank of China, which also had a successful IPO, debuted at No. 5. While China's economy grew nearly 11 percent last year, the revenue cutoff for this year's list rose 46 percent, to $1.9 billion, compared with last year's $1.3 billion.

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The country's gnawing demand for energy helped keep China Petroleum & Chemical (Charts) in its No. 1 position for the seventh year in a row, with revenue up almost 34 percent, to $134 billion.

State-owned companies continued to dominate the list, taking the top ten spots. The largest private company on the list, computer maker Lenovo, fell four places, to No. 11, even though its revenues rose 10 percent, to $14.6 billion.

The China 100 was compiled by the editors of Fortune China in cooperation with the Finet Group, a Hong Kong--listed company specializing in providing business information about China, and was first published in Fortune China. In compiling the list, Fortune China looked at Chinese companies listed on the stock exchanges in Shenzhen, Shanghai, Hong Kong, Singapore, London, and New York City. The companies are ranked by 2006 revenues. Figures were provided by the companies to the relevant stock exchanges and obtained from Bloomberg.