4 Chinese tech giants among world’s 50 smartest companies

By Ella Wong, June 25, 2015

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So much for China not being able to innovate. Not only were four Chinese companies named among the world’s 50 smartest companies by MIT Technology Review, but three actually made the top ten!

Xiaomi took second place behind Tesla Motors and well ahead of Apple, which placed 16th. Alibaba was at no. 4, beating Amazon at no. 13. WeChat’s Tencent came in at no. 7, besting Facebook (no. 29), Japanese chat app Line (no. 37) and Snapchat (no. 47). Sadly, Baidu let the team down a bit, coming in behind twelfth-placed Google at no. 21.

Here’s what the tech publication had to say about the Chinese champs:

2. Xiaomi

Fast-growing smartphone vendor is maturing beyond its original “cut-price Apple” model with ideas like flash sales over its mobile messaging platform.

$45 billion Most recent valuation for the private company

 

4. Alibaba

The world’s largest online retailer, it conducts more than half its daily transactions through its Alipay digital wallet/banking service.

$25 billion Amount raised in its record-setting IPO

 

7. Tencent

China’s most-used Internet service portal is expanding by investing in companies inside and outside its home market.

549 million Active monthly users on WeChat and its related Weixin service

 

21. Baidu

The Chinese Internet company’s new deep-learning research lab has produced notable results in facial and speech recognition.

70 percent Increase in 2014 research spending, to $1.125 billion

 

We can image imagine proud Papa Xi reading this report card from the “Tsinghua of America” and beaming.

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