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move over america: china joins the ranks of the world’s biggest tech companies

move over america: china joins the ranks of the world’s biggest tech companies News Article With The full text news. The Resource Link is down the post and you can View this News Article in the source page.



move over america: china joins the ranks of the world’s biggest tech companies

the alibaba group and tencent holdings, chinese companies that dominate their home market, have rocketed this year to become global investor darlings.hong kong — the technology world’s $400-billion-and-up club — long a group of exclusively american names like apple, google, facebook, microsoft and amazon — needs to make room for two chinese members.the alibaba group and tencent holdings, chinese companies that dominate their home market, have rocketed this year to become global investor darlings. they are now among the world’s most highly valued public companies, each of them twice as valuable as tech stalwarts such as intel, cisco and ibm.while u.s. technology giants dominate people’s online lives in western countries, tencent and alibaba have soared by essentially carving up china, the world’s single largest internet market with more than 700 million online users. that is roughly twice the size of the population of the united states. chinese people also spend more money online than americans.most read storiesunlimited digital access. $1 for 4 weeks.their surge, which has taken place inside a tightly controlled internet space that has blocked international companies like facebook, has increasingly set them apart from the rest of china. despite headline numbers that suggest stable growth, the chinese economy is grappling with many problems, including heavy debt and continued reliance on rusty industries like steel.yet alibaba and tencent last week both reported ...