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Chinese Internet giants rapidly closing the gap between their American competitors

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Chinese Internet giants rapidly closing the gap between their American competitors

Reuters

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.

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.

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.
Chinese Internet giants rapidly closing the gap between their American competitors

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