Forbes recently released its 14th annual Global 2000 list; a ranking of the biggest companies in the world. China’s banking giants retain the top three spots on the list.Criteria for the ranking include: sales, profits, assets and market value.
Forbes reported that M&A activity thrived in 2015, the biggest year yet. Kraft jumped to No. 282, up over 100 spots, after merging with Heinz. Swiss insurance company ACEacquired Chubb in January 2016. The new company is keeping the Chubb name and jumps to No. 216. Though IPO activity has quieted in the U.S., the boom continues in Asia noted the Forbes announcement. Japan Post Holding, the Japanese postal service, went public in November 2015 and is the highest-ranked newcomer at No. 29.
Despite Chinese banks leading the list, softness in the Chinese economy effected this year's rankings according to Forbes Media Senior Editor Steve Schaefer. "The 2016 Global 2000 illustrates the headwinds public companies face from a slowing Chinese economy, the collapse in energy prices and ongoing actions by central banks in the U.S., Europe and Japan, among other trends," Schaefer noted in a release.
The list highilghts Asian growth as three of the five countries with the most names on the list are China, Japan and South Korea. The United States had the most names with 587, followed by China/Hong Kong with 249, Japan with 219, United Kingdom with 92 and South Korea with 67.
Here are the top 10 companies from this list.