(Photo : Sinopec Oil Station)

China's oil giant Sinopec Group has once again topped the annual Top 500 Chinese Enterprises list compiled by the China Enterprises Confederation and the China Enterprises Directors Association.

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The 2013 edition of the Top 500 Chinese Enterprises, which was unveiled on Saturday during a press conference, was based on total revenues of Chinese companies for the entire 2012.

According to the press release issued by the Chinese Enterprise Confederation and the China Enterprises Directors Association, Sinopec's total revenue last year hit CNY2.83 trillion, or $458.6 billion, making it the leader in this year's list.

Sinopec Dominates List for 9 Years

Sinopec has been topping the list for the past nine years, although it is trailed closely by China National Petroleum Corporation (CNPC) this year. CNPC's 2012 revenues reached CNY2.68 trillion or $ 438.1 billion. CNPC is the parent company of PetroChina, the country's biggest oil and gas producer

From out of the 500 companies listed, 123 companies, including 16 privately-owned firms, reported revenues of more than CNY100 billion ($16.34 billion) in 2012.  In last year's listing, only 107 companies reported revenues of more than CNY100 billion.

The press release also showed that the top 500 companies in China had a combined 2012 revenue of CNY50.2 trillion, or $8.20 trillion. The figure represents an 11.41 per cent increase from a year earlier.

43 Companies Suffered Losses

However, last year was not all good news for the companies in the top 500 list. According to the China Enterprises Confederation and the China Enterprises Directors Association, 43 Chinese firms in the list suffered losses while 216 others saw declines in their net profits.

This year's Top 500 Chinese Enterprises list is dominated by the following companies:  Sinopec, CNPC,

State Grid, Industrial and Commercial Bank of China, China Construction Bank, Agricultural Bank of China, Bank of China, China Mobile, China State Construction and China National Offshore Oil Corporation.