Date
18 October 2017

Tencent tops China firms on Forbes Asia Fab 50 list, Xinhua says

Forbes magazine’s annual Fabulous 50 listing of Asian companies has seen 26 firms from mainland China, Taiwan and Hong Kong dominating the list, Xinhua news agency reported, citing information released by the US-based magazine on Tuesday. Tencent Holdings Ltd. (00700.HK) topped the 20 mainland firms selected with its US$87.2 billion market cap, which was also the highest among all the Fab 50. Internet search giant Baidu Inc. ranked second among mainland firms in terms of market cap with US$47.3 billion. Other mainland companies making the list included Haier, Gree, Hisense and property developers China Vanke Co. Ltd. (000002.CN), Poly Real Estate Group Co. Ltd. (600048.CN) and Longfor Properties Co. Ltd. (00960.HK). The Asia Fab 50 list was compiled by Forbes after reviewed over 1,200 firms in the Asia Pacific region in terms of revenue, profit, investment return, stock price and market outlook.

– Contact HKEJ at digest@ejinsight.com

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