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China has world's 3 largest companies: Forbes

Source:   Time:

BEIJING, May 8 (Xinhua) -- China became home for the first time to the world's three biggest public companies and five of the top 10, according to the Forbes Global 2000 List released on Thursday.

Industrial and Commercial Bank of China (ICBC) held onto its No.1 spot for a second year, followed by China Construction Bank and Agricultural Bank of China.

The other two were Bank of China -- another of the "Big Four" Chinese banks -- and PetroChina, ranking ninth and tenth, respectively.

Chinese mainland and Hong Kong added 25 to the 2014 list, more than any other country, for a total of 207.

The United States accounted for the other half of the top 10 spots, and held onto its crown with 564 companies on the list. Japan trailed the U.S. with 225 companies in aggregate, despite losing 26 members this year.

The magazine said its Global 2000 is a comprehensive list of the world's largest and most powerful public companies in terms of revenues, profits, assets and market value.

The 2014 list hailed companies from 62 countries, up from 46 in its inaugural 2003 ranking. In total, these companies raked in revenues of 38 trillion U.S. dollars and profits of three trillion with a market value of 44 trillion.

"The list presents an annual snapshot of the ever-changing global business landscape," the magazine wrote.

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