Chinese Internet giants rapidly closing the gap between their American competitors

Author : Roman Komyza

Source : 112 Ukraine

Chinese largest companies are no longer raw materials or industrial giants. High-tech private companies are coming to the fore, their market capitalization is close to the value of the world's largest American corporations
16:55, 6 February 2018

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Jack Ma, founder and executive chairman of Alibaba Group

It is obvious that China is not anymore in a place where, according to the generally accepted stereotype, it was a so-called "world factory". Nowadays, the largest Chinese companies are no longer the raw or industrial giants founded by the state. They are the high-tech companies, a market capitalization of which is getting closer to the value of the world's largest corporations. If we set a rough comparison with the American companies which work in a similar segment, we will be able to draw parallels.

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Tencent owns China’s largest WeChat social platform. Its market capitalization is 550 billion dollars. Capitalization of its American analog, Facebook, reaches 552.92 billion dollars.

Alibaba is the Chinese giant of e-commerce and the largest operator of cloud computing services. Market capitalization is 483 billion dollars. The analog in the US is Amazon with the capitalization of 689.05 billion dollars.

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Baidu is the largest search engine and a leader in the field of artificial intelligence technologies in China. Market capitalization is $ 81 billion. The American analog is Alphabet with the capitalization of $ 773.02 billion.

Xiaomi is a Chinese smartphone developer. Market capitalization is $ 50 billion. Its American analog is Apple, the capitalization is $ 824.06 billion.

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