Global 2000: China's Largest Companies 2016

China may be struggling with the slowdown of its economic growth engine, but when it comes to the world’s leading companies the country remains a rising power.

Banking behemoths ICBC , China Construction Bank and Agricultural Bank of China maintain their grip on the top three spots on the FORBES Global 2000 in 2016, despite a sharp rise in non-performing loans and the broader pressures on economic growth. The Chinese economy officially grew at a 6.7% clip in the first quarter of 2016, but there is no shortage of skepticism over the country’s GDP figures as its growth slows. Here's how we crunched the numbers. 

According to the latest IMF outlook, growth in China is expected to slow to 6.3% in 2016 and 6.0% in 2017, primarily reflecting weaker investment growth as the economy continues to rebalance. That could thin the crowd of companies the country puts on the Global 2000.

China’s economic challenges become more evident further down the list. Bank of China slipped two spots to sixth place overall, but the total number of Chinese companies on the list fell to 172 from 232 a year ago. That still marks the greatest representation of any Asian country, outpacing Japan’s 127 representatives, South Korea’s 67 and India’s 56 companies.

The FORBES Global 2000 ranking is based on a composite score from equally-weighted measures of revenue, profits, assets and market value. Despite China’s significant presence among the world’s biggest companies, Chinese firms are clearly in worse shape than a year ago. Revenue over the trailing 12 months fell 17% to $3.8 trillion, while profits dropped 16% to $396 billion. The 172 Chinese companies had $24.8 trillion in assets and a combined market valuation of $4 trillion, down 33% from last year, when data for the list were locked in April 22.

While banks are China’s biggest representatives in the Global 2000, construction companies feature most significantly by volume, landing 29 members to 20 in banking. The materials sector follows with 17 companies.

China’s slowdown is also a contributing factor in the global collapse in commodity prices, which didn’t spare the country’s companies. Oil & gas player CNOOC dropped 31 spots from 2015, ranking 134th, primarily due to a steep drop in revenue and profits.

On the positive side of the ledger, Alibaba continues to climb the ranks since going public in 2014. Jack Ma’s e-commerce giant jumped 95 places to 174th thanks to a surge in profit and revenue that rose to nearly $15 billion.

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

The World'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

2016 Global 2000: The World's Largest Drug And Biotech Companies

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The World's Largest Retailers 2016: Wal-Mart Dominates But Amazon Is Catching Up