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Top 10 Largest State-Owned Companies in the World 2024



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We bring to you the largest companies in the world in 2024 based on the revenue generated last year. China and the United States lead with the highest number of Global largest state-owned companies. Also, companies in oil and gas industries dominate the list. The figures here reflect the value of their assets in 2019. Information was sourced from Forbes, Wikipedia, and other platforms. Take a look at the list below.

Top 10 Largest Companies in the World



Assest – $4,322.5 B

Industrial and Commercial Bank of China Limited is a multinational Chinese banking company.

Founded as a limited company on January 1, 1984, ICBC is a state-owned commercial bank. With capital provided by the Ministry of Finance of China, the bank’s Tier 1 capital in 2013 was the largest of one thousand global banks, being the first bank headquartered in China to achieve this distinction in modern history. Subsequently, ranked the largest bank in the world 2017, 2018, 2019, and 2020 by total assets. 

ICBC was positioned at 1st in The Banker’s Top 1000 World Banks ranking, every year from 2012 to 2019, and first (2019) on the Forbes Global 2000 list of the world’s biggest public companies.

China Construction Bank


Assets- $3,822 B

China Construction Bank Corporation (CCB) is one of the “big four” banks in the People’s Republic of China. In 2015 CCB was the 2nd largest bank in the world by market capitalization.

The bank has approximately 13,629 domestic branches. In addition, it maintains overseas branches in Barcelona, Frankfurt, Luxembourg, Hong Kong, Johannesburg, New York City, Seoul, Singapore, Tokyo, Melbourne, Kuala Lumpur, Sydney, and Auckland, and a wholly-owned subsidiary in London.  Its headquarters is in Xicheng District, Beijing.

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Agricultural Bank of China


Assets – $3,697.5 B

Agricultural Bank of China (ABC), also known as AgBank, is one of the “Big Four” banks in the People’s Republic of China. It was founded in 1951 and has its headquarters in Dongcheng District, Beijing.

It has branches throughout mainland China, Hong Kong, London, Tokyo, New York, Frankfurt, Sydney, Seoul, and Singapore.

ABC has 320 million retail customers, 2.7 million corporate clients, and nearly 24,000 branches.

It is China’s third-largest lender by assets. ABC went public in mid-2010, fetching the world’s biggest-ever initial public offering (IPO) at the time

Largest Companies in the World

Bank of China


Assets – $3,387 B

Bank of China is one of the four biggest state-owned commercial banks in China. Bank of China is legally separate from its subsidiary Bank of China (Hong Kong), although they maintain close relations in management and administration and co-operate in several areas including reselling BOC’s insurance and securities services.

From its establishment until 1942, it issued banknotes on behalf of the Government along with the “Big Four” banks of the period: the Farmers Bank of China, Bank of Communications, and Central Bank of the Republic of China. Its headquarters are in Xicheng District, Beijing.

JPMorgan Chase

United States

Assets – $3,139.4 B

JPMorgan Chase & Co. is an American multinational investment bank and financial services holding company headquartered in New York City.

JPMorgan Chase is ranked by S&P Global as the largest bank in the United States and the third-largest bank in the world by total assets, with total assets of $3,139.4 B.

It is also the world’s most valuable bank by market capitalization. JPMorgan Chase is incorporated in Delaware.

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Bank of America

United States

Assets -$2,620 B

The Bank of America Corporation is an American multinational investment bank and financial services company headquartered in Charlotte, with central hubs in New York City, London, Hong Kong, Dallas, and Toronto.

Founded in San Francisco, Bank of America was formed through NationsBank’s acquisition of BankAmerica in 1998.

It is the second-largest banking institution in the United States, after JPMorgan Chase

largest companies in the world

Ping An Insurance


Assets- $1,218.6 B

Ping An Insurance known also as Ping An of China full name Ping An Insurance (Group) Company of China, Ltd. is a Chinese holding conglomerate whose subsidiaries mainly deal with insurance, banking, and financial services.

The company was founded in 1988 and is headquartered in Shenzhen. “Ping An” literally means “safe and well”.

Berkshire Hathaway

United States

Assets – $817.7 B

Berkshire Hathaway is an American multinational conglomerate holding company headquartered in Omaha, Nebraska, United States.

The company wholly owns GEICO, Duracell, Dairy Queen, BNSF, Lubrizol, Fruit of the Loom, Helzberg Diamonds, Long & Foster, FlightSafety International, Pampered Chef, Forest River, and NetJets, and also owns 38.6% of Pilot Flying J; and significant minority holdings in U.S. public companies Kraft Heinz Company (26.7%), American Express (17.6%), Wells Fargo (9.9%), The Coca-Cola Company (9.32%), Bank of America (6.8%), and Apple (5.22%).

Beginning in 2016, the company acquired large holdings in the major US airline carriers, namely United Airlines, Delta Air Lines, Southwest Airlines and American Airlines but sold all of its airline holdings early in 2020

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largest companies in the world