(Xinhua) Global equity markets have surged to record highs in 2021 as government and central bank policies supported economic recovery, compared with the year 2020, which was hit by the devastating COVID-19 pandemic, said consultancy PwC in its Global Top 100 companies by market capitalization report released in May.

The market capitalization of the Global Top 100 companies, as at March 2021, increased by 48 percent to $31.7 trillion from March 31, 2020, to March 31, 2021, read the report.

Apple tops the world in market capitalization, with Saudi Aramco and Microsoft ranked the second and third place, respectively.

Alibaba ranked in the top 10 list of market capitalization, No 9 is Alibaba. The Sector is Consumer Discretionary, the Market Capitalization is $615 billion.