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Home / Business / China has 9 of the world's 20 largest technology companies

China has 9 of the world's 20 largest technology companies



China is on a par with the US when it comes to who is one of the largest technology companies.

It has nine of the top 20 global technology giants, while the US has the other 11 according to this table by Kleiner Perkins Caufield & Byers partner Mary Meeker's annual report on Internet trends



Kleiner Perkins

The world's top five technology companies , which are measured by market value today, are Apple

AAPL, -0.34%

Amazon

AMZN, + 0.29%

Microsoft

MSFT, -0.11%

Alphabet

GOOG, + 1.61%

and Facebook

FB, + 2.19%

But in sixth place comes China's Alibaba

BABA, + 0.02%

followed by Tencent

TCEHY, + 0.39%

Other Chinese companies listing the top 20 technology companies are Chinese search engine giant Baidu

BIDU, + 0.38%

and smartphone giant Xiaomi.

Xiaomi filed an IPO in Hong Kong last month, which is expected to be the largest IPO worldwide this year. The Chinese smartphone maker, according to those familiar with the matter, is aiming for a rating of $ 70 to $ 80 billion.

Read more: How the misunderstanding of the Chinese by China misses them

See also: The scary reason why one should invest more in Chinese stocks

So, What drives growth in Chinese technology companies? Already, Meeker points to robust entertainment and retail innovations.




China's GDP growth is increasingly driven by domestic consumption, which in 2003 accounted for only 35% of GDP growth, compared to 62%.




Internet usage The number is also increasing rapidly on mobile devices.




People spend more and more time watching videos, especially short videos defined as less than five minutes in length.




And people in China actually pay for online content. Online video platform iQiyi

IQ, -1.59%

has seen huge subscriber growth, surpassing 50 million paying subscribers. Tencent Video recently announced that it has passed 62 million subscribers in February.




One of the most notable differences between China's technology approach and the US? Chinese Internet users are much more willing to share their data. According to the Meeker report, 38% of Chinese netizens said they share personal information, such as financial or driving data, to receive benefits such as lower prices or personalization.


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