China’s Dominance of the Top 10 Biggest Companies
4 of the Top 10 biggest companies in the world are Chinese Banks with PetroChina as a 5th representative. The top 10 companies in the world have been dominated by BFSI and Energy firms and mainly by those from the UnitedStates.. Traditional American Banking powerhouses were decimated by the financial crisis of 2008, paving the way for Chinese Banks to rise to the top, underscoring the incredible growth story of the country. The assault of China to the Top 10 of each industry is limited, at the moment, to sectors like banking, materials, construction, telecommunications and trading. UnitedStates, Europe and Japan (G7 economies) still dominate the top positions in sectors where the brand or high technology is the key but China is catching up on that front too.
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