China\u2019s state-owned banks and energy majors \u2013 once shoulder to shoulder with American firms at the top of market capitalisation rankings \u2013 have fallen behind as AI and technology companies capture the imagination of global investors, redirecting capital and reshaping the global corporate order.<\/p>\n
As of Friday, Nvidia<\/a> topped the global rankings, with a market capitalisation of about US$5.1 trillion, followed by Alphabet and Apple. According to financial data provider CompaniesMarketCap, seven US technology firms were among the world\u2019s 10 largest listed companies, with Taiwan Semiconductor Manufacturing Co.<\/a>, Saudi Aramco and Samsung the only exceptions.China\u2019s corporate landscape tells a different story. The largest listed firms remain dominated by state-owned banks, energy producers and consumer brands such as liquor giant Kweichow Moutai, though Tencent Holdings<\/a>, the country\u2019s largest technology company, tops the domestic rankings at roughly US$505 billion.<\/p>\n Hong Hao, chief investment officer at Hong Kong-based Lotus Asset Management, said investors were increasingly willing to pay a premium for technology companies, while traditional industries were losing their appeal.<\/p>\n SpaceX\u2019s market debut this month offered the starkest illustration yet. The rocket company vaulted to the sixth-largest listed firm in the world, reinforcing investor conviction that artificial intelligence and technology are redrawing the boundaries of global capital.<\/p>\n \u201cThe old economy is fading and everyone wants tech,\u201d Hong said. \u201cThese are the signs of the time.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"China\u2019s state-owned banks and energy majors \u2013 once shoulder to shoulder with American firms at the top of…\n","protected":false},"author":2,"featured_media":549431,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[261],"tags":[291,8472,4186,311,289,290,83023,33631,78478,235407,161309,235405,18,235408,56200,19,147442,130953,17,235406,17345,47606,292,94751,2356,73298,19453,2731,69300,82,1475,132581],"class_list":["post-549430","post","type-post","status-publish","format-standard","has-post-thumbnail","category-artificial-intelligence","tag-ai","tag-alibaba","tag-alphabet","tag-apple","tag-artificial-intelligence","tag-artificialintelligence","tag-catl","tag-china-construction-bank","tag-china-us","tag-companiesmarketcap","tag-contemporary-amperex-technology-co","tag-david-chao","tag-eire","tag-hong-hao","tag-icbc","tag-ie","tag-industrial-and-commercial-bank-of-china","tag-invesco","tag-ireland","tag-kweichow-mao-tai","tag-market-capitalisation","tag-minimax","tag-nvidia","tag-petrochina","tag-pwc","tag-saudi-aramco","tag-south-china-morning-post","tag-spacex","tag-taiwan-semiconductor-manufacturing-co","tag-technology","tag-tencent","tag-zhipu"],"share_on_mastodon":{"url":"","error":"Validation failed: Text character limit of 500 exceeded"},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts\/549430","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/comments?post=549430"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts\/549430\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/media\/549431"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/media?parent=549430"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/categories?post=549430"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/tags?post=549430"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}