By Geoffrey Smith and Alan Murray
July 20, 2016

This morning, we are releasing our list of the Fortune Global 500 – the largest companies in the world, ranked by revenue. Among its surprises: Chinese companies now hold three of the top four spots on the list.

 

Walmart still takes top honors. But up next are three giant, state-owned Chinese energy companies – State Grid; China National Petroleum; and Sinopec.

 

Royal Dutch Shell, previously number three, has fallen to five. Exxon Mobil has dropped from five to six. Filling out the top ten are Volkswagen, Toyota, Apple (up from 15 last year) and BP.

 

While the U.S. presence at the top may be sagging, its overall presence on the list grew in 2015. There were 134 U.S.-based companies, up six from the year before.

 

Overall sales by the 500 fell 11.5% last year, and profits slumped by an equal amount, reflecting a slowdown in China, the collapse in oil prices and a surging dollar.

 

You can see the full list here. More below.

 

 

Alan Murray
@alansmurray
alan.murray@fortune.com

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