Chinese banks dominate Forbes list

For the first time, Chinese banks have edged ahead of U.S. heavyweights like JP Morgan and General Electric to secure the top two spots on Forbes’ 10^th annual ranking of the world’s top 2000 businesses, reports Guardian.co.uk.

Overall, the list has a total of 543 companies from the U.S., while its closest rivals Japan and China have 251 and 136 respectively.

The list, dominated by banking and financial firms, is heavily represented by such industries as oil and gas and insurance.

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Staff

The staff of Advisor.ca have been covering news for financial advisors since 1998.