Seventy-seven Beijing-headquartered Chinese companies edged into Fortune China's top 500 Chinese companies, accounting for about 15 percent of the total.
Eight of the top ten companies on the list are based in Beijing, according to the list, which was released Tuesday. Only China Mobile Communications (No. 4, with revenues of 560.41 billion yuan, or $90.39 billion in 2012), and Shanghai Automotive Industry Corporation (No. 8, with 480.98 billion yuan, or $77.58 billion) are based elsewhere.
Sinopec and Petrochina cemented their spots as the two largest Chinese companies this year, with respective revenues of 2.79 trillion yuan ($450 billion) and 2.2 trillion yuan ($354.84 billion) in 2012.
China State Construction Engineering, with revenues of 571.52 billion yuan ($92.18 billion), replaced China Mobile as China's third most revenue-producing company .
China's "big four" banks, Industrial and Commercial Bank of China (ICBC), China Construction Bank, Agricultural Bank of China and Bank of China, were ranked the most profitable companies in China.
ICBC, which registered 238.53 billion yuan ($38.47 billion) in profits in 2012, has been the most profitable Chinese company on the list for four consecutive years.
The annual rankings are based on the information disclosed at stock exchanges by all listed Chinese companies.
This year's threshold was raised to 7.25 billion yuan ($1.17 billion), 1 billion yuan ($161.29 million) higher than that of 2012.