A total of 79 companies in China, including Hong Kong and Taiwan, made the list of the Fortune Global 500 for the year 2012.

China has exceeded Japan to be the country with the second largest number of Fortune Global 500 companies, next to the United States.

Sinopec Group, with a revenue of $ 375,214 million, ranked No 5 on Fortune magazine's annual ranking of the world's largest corporations. Sinopec Group, China's biggest oil producer and refiner, is known as China Petroleum and Chemical Corp.

China National Petroleum Corporation and State Grid made No 6 and No 7.

Greenland Group, the only real estate developer in China making its way onto the Fortune Global 500, is ranked 483rd.

Zhejiang Geely Holding Group is also a new comer to the Fortune Global 500 this year, ranking 475th.

More Chinese companies will join the Fortune Global 500 group next year as long as China's economy can grow 7.5 percent year-on-year as planned by the Chinese government, the Beijing News reported, citing Fortune magazine.