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Chinese bank ICBC unseats Exxon Mobil as the world’s biggest company this year and takes the number one spot for the first time.
Another Chinese bank, China Construction Bank, moves up 11 spots to number two on the list.
Forbes Global 2000 are the biggest, most powerful listed companies in the world.
China is the third largest country in terms of membership in the list after the US and Japan who are in the top and second spot respectively.
Both the top two Chinese companies have risen up the list owing primarily to their double-digit growth in sales and profits last year.
Ironically, 2012 was their slowest annual growth rate since each went public.
Asia-Pacific, the biggest region, has the most members for the sixth year running.