The world’s largest companies: Is this China’s century?

The FORBES Global 2000 is a comprehensive list of the world’s largest, most powerful public companies, as measured by revenues, profits, assets and market value. We weight the four numbers equally to come up with a composite score, in pursuit of our goal to best capture the full picture of corporate size.
This year, the Global 2000 companies hail from 62 countries, up from 46 in our inaugural 2003 ranking. In total, they raked in revenues of $38 trillion and profits of $3 trillion, with assets worth $161 trillion and a market value of $44 trillion.

All those totals are higher than a year ago, with the largest growth being in market value (up 13 percent year-over-year).
These firms employ 90 million people worldwide.

For the first time, China is home to the world’s three biggest public companies and five of the top 10. State-controlled Chinese bank ICBC holds onto its number one spot for a second consecutive year, while China Construction Bank takes second place and Agricultural Bank of China moves up five spots to third. They’re joined in the top 10 by the other member of the “Big Four” Chinese banks, Bank of China, at No.9.

As China gains ground, its best frenemy – the United States – account for the other half of the top 10 spots. Berkshire Hathaway and Wells Fargo both move up four spots to No.5 and No. 9, respectively. JP Morgan slides to fourth place as its total composite score slipped behind Agricultural Bank of China. Say goodbye to the two Europe-based companies in Top 10 last year, Royal Dutch Shell (No.11) and HSBC Holdings (No.14).

The list presents an annual snapshot of the ever-changing global business landscape. The US holds onto its crown as the country with the most Global 2000 companies: 564. Japan trails the US with 225 companies in aggregate, despite losing the most members (26) this year.

China (mainland and Hong Kong) adds 25 to the list this year, more than any other country, for a total of 207. Three countries debut on the list this year: Mauritius, Slovakia, and Togo. Since FORBES published the first Global 2000 list in 2003, the power dynamics between the West and the East have shifted dramatically. This year we break down the list to seven regions to take a more nuanced look at regional differences. With 674 members in total, Asia easily takes the lead, leaving North America (629 members) and Europe (506 members) behind.

That’s a stark contrast from 11 years ago when North America dominated the list with over 50 percent more than Asia’s total number. Emerging markets, especially Middle East and Central & South America, also gained significant shares in the past decade with 265 percent and 76 percent growth respectively. While Africa still has the least Global 2000 members, it has made slow progress. Four of the African newcomers are based in Nigeria, giving it a total of five.