China owns 4 of 10 global top firms by market value

Ranked-based on market value, a total of four Chinese enterprises were listed on the global top ten list, attributed by its A-shares and H-Shares which have been rising overwhelmingly.

With reference to the closing price on Oct. 16, China and U.S. companies took up four positions each in the list. The Chinese companies included world's second PetroChina<857>, the fourth China Mobile<941>, the fifth China's Industrial and Commercial bank (ICBC)<601398><1398>, and the eighth China Petroleum & Chemical Corp (Sinopec)<600028><386>.

The overall market value of these four firms reached a high of US$1.4039 trillion against a market value of US$1.4833 from the U.S., with a US$80 billion difference only.

Among the global banks, China's ICBC emerged as the world's No.1 in terms of market value, approximated at US$335.7 billion.

According to the list, PetroChina has surpassed General Electric Co and is positioned as the world's second, preceding Exxon Mobile Corp.

On the average, P/E ratio of the four Chinese firms increased by 31.44%, significantly exceeding the top ten firms' total of 21.45%. It is reported that P/E ratio for PetroChina, China Mobile, ICBC and Sinopec, stood at 22.56%, 41.85%, 45.28% and 16.06% respectively.