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Chinese take lion's share of Forbes Asia Fab 50

By Tuo Yannan  (China Daily)

08:12, September 04, 2012

Chinese companies accounted for more than half of this year's Asia Fab 50, a list compiled by Forbes.com of the 50 best publicly traded companies in the Asia-Pacific region, despite the economic slowdown.

In the list, 27 companies were from China, according to Forbes.com.

Technology companies are starting to make their presence felt on the list. Chinese Internet giant Baidu Inc is new to the list this year. It runs Baidu.com, the country’s largest search engine. Billionaire Robin Li founded the company in 2000 and took it public in the United States in 2005 at $27 a share.

The company’s stock price is now more than $100, but still has 87 percent of analysts rating it as "buy in".

During the second quarter of this year, it reported a 70 percent growth in profits, reaching 2.77 billion yuan ($436 million), benefiting from China’s large Internet user base and robust advertising sales.


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