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"Compared with the US, where many IT companies have the strongest earning potential, the best money earners in China are still banks," said Xiong Xiaoge, vice-president of US venture capital IDG. "This means Chinese technology still has a lot of room to improve."
China Petrochemical Corp, Asia's leading refinery, topped the revenue list for the fourth consecutive year with 1.46 trillion yuan in 2008. Its net profit was 13.6 billion yuan.
According to CEC, the total revenue of China's top 500 enterprises amounted to 26 trillion yuan, an increase of 19.7 percent over last year.
On the international scene, an unprecedented 34 Chinese companies made it onto the list of the world's top 500 companies, overtaking Britain.
US companies captured 140 places in 2009, 13 less than last year.
This is the eighth consecutive year CEC has released its list.
Economy bottomed out
China's economy has already bottomed out and is in the crucial period of stabilization and recovery, Yao Jingyuan, chief economist with China's National Bureau of Statistics, said on Saturday.
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