FIVE Shenzhen-based companies moved up in the latest Global 500 list released by Fortune magazine.

Even while facing unfavorable external conditions, Huawei Technologies advanced 11 places to rank No. 61 on the list. China Evergrande Group advanced 92 places to No. 138, and China Merchants Bank rose to No. 188. Tencent Holdings advanced 94 places to No. 237, and Vanke advanced 78 places to 254.

China Ping An retained its position at 29, while the ranking of Amer saw a slight drop by eight places to No. 119, the ranking shows.

Tencent and Evergrande are among the top 10 fast-growing enterprises in the world. Six of the top 10 fast-growing companies are Chinese, namely Alibaba Group Holding, Yango Longking Group, Tencent Holdings, Suning Holdings Group, China Evergrande Group and Country Garden Holdings.

It is the first time that China has overtaken the U.S. regarding number of companies on the list — with the 129 Chinese companies listed eclipsing the 121 U.S. companies listed — since the list’s debut in 1990.

The overall turnover of the top 500 firms reached US$32.7 trillion, 8.9 percent higher than in the previous year. Increasing 14.5 percent year on year, their gross profit hit a record high at US$2.15 trillion with a net margin of 6.6 percent.

(Han Ximin)