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Thirty-five Chinese language firms are listed on the Hurun World 500 for 2022, 12 fewer than final 12 months, a report performed by Hurun Analysis Institute reveals. Final 12 months’s highest-ranking Chinese language agency, tech large Tencent, has fallen 20 locations on the listing and has been surpassed by Taiwanese chipmaker TSMC, with the latter being valued at RMB 2.3 trillion ($328 billion). The report states that the worth of China’s high firms has fallen by greater than 50% up to now 12 months amid a weak economic system and the nation’s crackdown on the tech sector, with Alibaba, Xiaomi, and Tencent down 71%, 67%, and 62% respectively. Chinese language firms who made the 2021 rating however did not make this 12 months’s listing embrace quick video platform Kuaishou, ride-hailing firm DiDi, pharmaceutical agency WuXi Biologics, and EV startup Nio. Rating 184 final 12 months, Kuaishou misplaced almost 4 occasions its worth in 2022. The report additionally identified that the worth of 340 firms all over the world declined or remained unchanged from final 12 months, although Apple nonetheless retained the highest spot with a valuation of $2,366 billion. [Hurun, in Chinese]
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