The 10 most profitable publicly-listed Chinese companies that appear in the Forbes Global 2000 list for 2010 are listed below.
|1||PetroChina||PTR||Oil & Gas Operations||157.22||16.8|
|3||China Construction Bank||OTC:CICHF||Banking||59.16||13.59|
|4||Bank of China||OTC:BACHF||Banking||52.2||9.45|
|5||Sinopec-China Petroleum||SHI||Oil & Gas Operations||208.47||4.37|
|6||Bank of Communications||Banking||19.05||4.17|
|7||China Shenhua Energy||OTC:CSUAY||Materials||15.72||3.91|
|8||China Life Insurance||LFC||Insurance||24.01||3.12|
|9||China Merchants Bank||OTC:CIHHF||Banking||12.09||3.09|
|10||China Citic Bank||Banking||9.33||1.96|
PetroChina (PTR) tops the list with a profit of $16.8B. PetroChina’s profit is comparable to Brazilian oil company Petrobras’ (PBR) profit of $16.63B. The list above is heavily concentrated with banks taking six of the spots. None of the Chinese banks trade on the organized US exchanges. It is interesting to note that ICBC’s profit of $16.27 billion is higher than of the profits of America’s superbanks such as Bank of America (BAC), JPMorgan Chase (JPM), Wells Fargo (WFC) and Citigroup (C).