Chinese banks dominate top spots on world's biggest public firms

Chinese banks dominate the top three spots of the world's 10 largest public companies, according to the latest list compiled by Forbes.

Industrial and Commercial Bank of China (ICBC), China Construction Bank and Agricultural Bank of China lead the ranking, with their market caps reaching $198 billion, $162.8 billion and $152.7 billion respectively. Bank of China ranks as the sixth largest public company.

The top 10 list also includes five US firms and Japan's Toyota Motor.

This year's Forbes Global 2000 companies have a combined $35 trillion (S$47 trillion) in revenue, $2.4 trillion in profits, $162 trillion in assets and $44 trillion in market value.

The rankings are based on a composite score that measures sales, profits, assets and market value.

Here are top 10 largest public companies in the world in 2016 according to Forbes.

10. Toyota Motor

Country: Japan

Headquarters: Toyota

Industry: Auto & truck manufacturers

Founded in: 1937

Market cap (as of May 2016): $177 billion

Sales: $235.83 billion

9. ExxonMobil

Country: US

Headquarters: Irving, Texas

Industry: Oil & gas operations

Founded in: 1859

Market cap (as of May 2016): $363.3 billion

Sales: $236.81 billion

8. Apple

Country: US

Headquarters: Cuppertino

Industry: Computer Hardware

Founded in: 1976

Market cap (as of May 2016): $586 billion

Sales: $233.27 billion

7. Wells Fargo

Country: US

Headquarters: San Francisco, California

Industry: Banking

Founded in: 1852

Market cap (as of May 2016): $256 billion

Sales: $91.43 billion

6. Bank of China

Country: China

Headquarters: Beijing

Industry: Banking

Founded in: 1912

Market cap (as of May 2016): $143 billion

Sales: $122.03 billion

5. JPMorgan Chase

Country: US

Headquarters: New York

Industry: Banking

Founded in: 1799

Market cap (as of May 2016): $234.2 billion

Sales: $99.88 billion

4. Berkshire Hathaway

Country: US

Headquarters: Omaha, Nebraska

Industry: Investment Services

Founded in: 1955

Market cap (as of May 2016): $360.1 billion

Sales: $210.82 billion

3. Agricultural Bank of China

Country: China

Headquarters: Beijing

Industry: Banking

Founded in: 1951

Market cap (as of May 2016): $152.7 billion

Sales: $131.89 billion

2. China Construction Bank

Country: China

Headquarters: Beijing

Industry: Banking

Founded in: 1954

Market cap (as of May 2016): $162.8 billion

Sales: $146.82 billion

1. ICBC

Country: China

Headquarters: Beijing

Industry: Banking

Founded in:1984

Market cap (as of May 2016): $198 billion

Sales: $171.08 billion

Top 10 largest public companies in 2016

  • A man walks past a Toyota Motor Corp logo at the company's showroom in Tokyo, Japan June 14, 2016.
  • This file photo taken on September 20, 2008 shows an Exxon sign at a station in Manassas, Virginia.
  • The Apple Inc. logo is shown outside the company's 2016 Worldwide Developers Conference in San Francisco, California, U.S. June 13, 2016.
  • This file photo taken on January 5, 2016 shows a Wells Fargo bank branch location in Woodbridge, Virginia.
  • A man speaks on the phone outside the Bank of China head office building in Beijing, China, March 30, 2016
  • This file photo taken on December 12, 2013 shows the headquarters of JP Morgan Chase on Park Avenue in New York.
  • Warren Buffett, Chairman, CEO and largest shareholder of Berkshire Hathaway takes part in interviews before a fundraising luncheon for the nonprofit Glide Foundation in New York September 8, 2015.
  • The logo of Agricultural Bank of China is seen inside a business building in Beijing, China, March 11, 2016.
  • A customer waits at a counter of a branch of China Construction Bank Corp (CCB) at its headquarters in Beijing, China, March 31, 2016.
  • The logo of Industrial and Commercial Bank of China (ICBC) is seen at its branch at its headquarters in Beijing, China, March 30, 2016.

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