The World's Largest Companies 2016

The incredible ascent of the Chinese economy may be slowing down, but its banks still have plenty of weight to throw around.

Gallery: World's Largest Public Companies In 2016

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Chinese banks held on to the top three spots in the FORBES Global 2000, a comprehensive annual ranking of the world’s largest public companies. Industrial and Commercial Bank of China ( ICBC ), China Construction Bank and Agricultural Bank of China held onto their leading positions, despite a slowing Chinese economy that hurt profits and knocked peer Bank of China from fourth place to sixth. Here's how we crunched the numbers.

The FORBES Global 2000 ranking is based on a composite score from equally-weighted measures of revenue, profits, assets and market value. The 2016 list features public companies from 63 countries that together account for $35 trillion in revenue, $2.4 trillion in profit, $162 trillion of assets, and have a combined market value of $44 trillion.

Design: Nick DeSantis, Forbes Staff

All four metrics are down from the 2015 ranking, as slowing global growth, collapsing commodity prices and declines in equity markets in the U.S., China and elsewhere pressured businesses and knocked stocks. The Global 2000’s combined market cap fell 8% year-over-year.

Warren Buffett’s Berkshire Hathaway gains one spot to fourth overall in 2016, after holding up better than most in a turbulent market. In its latest quarterly disclosure of its investment portfolio Berkshire revealed a new stake in Apple , which clocks in at #8 in the 2016 ranking, returning to the Top 10. For all the hand-wringing over slowing iPhone sales and Tim Cook’s management, Apple still generated $233 billion in sales and $53 billion in profit over the last year.

Full Coverage Of Global 2000 Continues Here

U.S. banks were among this year’s gainers, despite the Federal Reserve dragging its feet on interest rate hikes. JPMorgan Chase rose into the top 5, while Wells Fargo made it into the top 10. Bank of America and Citigroup each climbed into the top 15.

Energy companies lost ground from a year ago, no surprise considering the continued collapse of oil prices. Exxon Mobil slipped to ninth place, from seventh in 2015, while PetroChina tumbled eight spots to seventeenth.

U.S. and China-based companies dominate the Top 10, with only Japan’s Toyota Motor at tenth preventing a clean sweep. Overall, 586 U.S. companies make the list, to 249 for China (mainland and Hong Kong), 219 for Japan, 92 from the United Kingdom and 67 from South Korea.

A record year for corporate dealmaking in 2015 also prompted some swift ascents. Kraft jumped more than 100 spots after merging with fellow household staples maker Heinz, while Swiss insurance firm ACE jumped into the top 200 after buying Chubb (the combined company kept the latter's name).

Breakups also pepper the list, with eBay spinoff PayPal debuting on the list at number 424 and the two pieces of Hewlett-Packard both making the cut (Hewlett Packard Enterprise at 166 and HP Inc. at 277).

List Credits

Edited by: Steve Schaefer and Matthew Schifrin

Reporters: Shreya Agarwal, Antoine Gara, Lauren Gensler, Corinne Jurney, Maggie McGrath, Samantha Sharf

Data: Andrea Murphy

Art: Merrilee Barton

For more coverage of the FORBES Global 2000 ranking of the world’s largest public companies, see below:

China's Largest Companies 2016

Europe's Largest Companies 2016

The Largest U.S. Companies 2016: Berkshire, Banks And Apple

The World's Largest Banks: China Keeps Top Three Spots But JPMorgan Rises

The World's Largest Tech Companies 2016: Apple Bests Samsung, Microsoft And Alphabet

2016 Global 2000: The World's Largest Transportation Companies