What are China's top companies? How they are doing? The China Enterprise Confederation and Chinese Entrepreneur Association have released their annual list of the country's top 500 companies. This serves as an important barometer for the country's economic landscape. For more on this, we are joined in the studio by CCTV's Jin Yingqiao.

Q1, So give us the list. Who are at the top?

A1, Well, it's the 15th time they are releasing this list, and this one tracks 2015 performance. On top, it's energy firm, the State Grid, which made over 2 trillion yuan last year. In the second place is oil and natural gas company, CNPC. In the  third is another oil company, SINOPEC.

Other companies in the top 10 are China's biggest bank ICBC; construction giant SCCEC; Ping An Insurance; and telecom provider China Mobile. CNPC and SINOPEC are still on top despite a revenue drop of about 20 percent due to lower oil prices. Banks and insurers continue to grow. Ping An grew by nearly a third so it jumped to 10th place from 20th last year. E-commerce firm JD.com is also coming up, placing 88th from last year's 123rd.

Alibaba, likewise, rose to 148th from 188th. Tech giant Huawei has stayed strong, ranking at 27th. Baidu and Tencent also did well. The fortune 500 companies' total revenue stood at 59.5 billion yuan -- that's 88 percent of China's economy in 2015. That's also the equivalent of about 80 percent of the revenue of America's 500 biggest firms.

Q2, And what are the new trends you are seeing in the report?

A2, There are plenty. First, it's the fact that China's fortune 500 firms saw their combined revenue decline for the first time in more than a decade. Revenues were down by 0.07 percent. Total profits were also down as more companies post losses. Out of the 500 firms, 72 lost money. That's 15 more than last year.

Most of them are in heavy industries such as steel, coal, and chemical manufacturing. Most of the companies that lost money were state-owned. Only five were private. Another trend is that there are now fewer traditional heavy-industry players. There are now more service providers and equipment manufacturers.

Makers of ships, cars and the like are now on the list. Companies in the service industry account for over 40 percent of total revenue. Among private companies, Huawei has beaten Lenovo to take the Number One spot!