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BEIJING Cheap Men's Supreme X Nike Air Max 98 All Black , July 23 (Xinhua) -- Chinese firms continue to ascend global rankings as their competitiveness grows with the country's transitioning economy.


The Fortune Global 500 list is seeing a China boom this year, the renowned magazine said on its website.


Chinese firms filled an unprecedented 115 places on the 2017 list released earlier this week, only 17 places less than the top performer, the United States. and marking the 14th-straight-year China has increased its presence on the list.


The Chinese companies making the list were mainly involved in the Internet, retail Cheap Nike Shox NZ Womens , finance, energy and property sectors.


China's State Grid and oil giant Sinopec Corp. were second and third, with revenue reaching 315 billion U.S. dollars and 268 billion dollars, respectively, in 2016.


Telecom giant Huawei rose from the 129th position last year to 83rd this year Cheap Nike Shox Womens , beating all global peers in its sector.


The performance of companies can well mirror changes in economic conditions. The Chinese economy's steady expansion in 2016 and the first half of this year are conducive to the rise of large firms, according to Liu Qiao, director of Guanghua School of Management with Peking University.


China reported faster-than-expected 6.9 percent GDP growth in the first half of the year, setting the country on course to comfortably meet its 2017 target of about 6.5 percent.


Chinese companies might outnumber their U.S. counterparts in the Fortune Global 500 rankings within the next three to five years as the world's second largest economy continues to expand, Liu estimated.


One bright spot is the rise of private companies. Ten Chinese firms hit the list for the first time Cheap Nike Shox Avenue Mens , most of which are private companies, including Internet service giants Alibaba and Tencent.