Chinese Banks Top List of World’s Biggest Companies

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Chinese banks have once again taken the top two spots on Forbes‘ latest list of the world’s largest public concerns.

The 16th annual Forbes Global 2000 list indicates that Industrial and Commercial Bank of China and China Construction Bank are the world’s two biggest listed companies, marking the sixth consecutive year that they’ve both occupied the top spots.

Agricultural Bank of China took fifth place, while Bank of China came in at ninth, putting all four of the big state-owned lenders within the ranks of the world’s top ten companies. China and the US also split the top 10 evenly for the first time since 2015.

Ping An Insurance Group was ranked as the 10th biggest public company in the world, while eight Chinese auto-manufactuers also featured on the list.

China is currently host to 291 Global 2000 companies, as compared to 262 in 2017, and 43 back in 2003 when the inaugural list was first published.

The US has the largest number of companies on the list at 560, while Japan, South Korea and the United Kingdom fill out the ranks of other top placing nations.

 

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