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Four Taiwanese companies on Greater China top 50 list

Four Taiwanese companies on Greater China top 50 list

Taipei, May 2 (CNA) Four Taiwanese enterprises were among the top 50 on a list of the 1,000 largest companies on the stock exchanges in Hong Kong, Taiwan and China, in a report released Wednesday. The corporate rankings, compiled by Business Today magazine, put Taiwan Semiconductor Manufacturing Co. (TSMC) at 21st, Hon Hai Precision Industry Co. at 24th, Formosa Petrochemical Corp. at 35th and Chunghwa Telecom Co. at 41st, in terms of market value. Taiwanese smartphone maker HTC Corp. dropped from 27th in the 2011 rankings to 92nd this year. The latest report is based on the closing market value of listed corporations in the stock markets in Taipei, Hong Kong, Shanghai and Shenzhen on April 27. Commenting on the rankings, Waterland Financial Holdings Co. Chairman Wei Chi-lin said most Taiwanese businesses, including the top four, are going downhill. In 2004, there were more than 230 Taiwanese enterprises in the Business Today top 1,000 rankings but the number has now dropped to 122, he pointed out. Most of the companies on the list are manufacturers of consumer products and items for the domestic market, Wei noted. He said the problem was insufficient inbound investment and capital outflow. "It is vital for Taiwan to attract capital and talented manpower, but we have never done well in that regard," Wei said. Business Today is a Taiwan-based weekly magazine that reports on economic, industrial and business activities in Taiwan, Hong Kong and China. It has been compiling the corporate 1,000 rankings for nine years in a row. (By Wu Chia-ying and Elizabeth Hsu)


Updated : 2021-04-18 01:09 GMT+08:00