Chinese banks dominate the top three spots of the world's 10 largest public companies, according to the latest list compiled by Forbes.

Industrial and Commercial Bank of China (ICBC), China Construction Bank and Agricultural Bank of China lead the ranking, with their market caps reaching $198 billion, $162.8 billion and $152.7 billion respectively. Bank of China ranks as the sixth largest public company.

The top 10 list also includes five US firms and Japan's Toyota Motor.

This year's Forbes Global 2000 companies have a combined $35 trillion in revenue, $2.4 trillion in profits, $162 trillion in assets and $44 trillion in market value.

The rankings are based on a composite score that measures sales, profits, assets and market value.

Here are top 10 largest public companies in the world in 2016 according to Forbes.

The logo of Toyota is seen at the company's showroom in Tokyo, Japan, June 8, 2016. [Photo/IC]

10. Toyota Motor

Country: Japan

Headquarters: Toyota

Industry: Auto & truck manufacturers

Founded in: 1937

Market cap (as of May 2016): $177 billion

Sales: $235.83 billion