February 21, 2017 admin

More Chinese brands among Fast Company’s 50 most innovative

Alibaba Group, China’s largest e-commerce company, was joined by five other Chinese firms on the Fast Company list.

Chinese companies have been named on Fast Company’s annual ranking of the world’s 50 Most Innovative Companies.

The 2017 edition, announced on Monday by the New York-based business magazine, features the most Chinese finalists since it began curating the list in 2008.

E-commerce giant Alibaba leads the Chinese companies on the list in 11th place, followed directly by technology giants Tencent, Xiaomi, BBK Electronics, Huawei and entertainment and property conglomerate Dalian Wanda.

Featuring on the list for the first time, BBK was praised for “igniting new smartphone markets” thanks to the success of its subsidiaries Oppo and Vivo, who dominated China’s smartphone markets in 2016 due to a successful policy of targeting youth in China’s lesser-developed cities.

Another first-timer, Dalian Wanda, was named because of its success in “staging its own dream factory”, after a year in which the company extended its reach into Hollywood with the acquisition of production giants Legendary Entertainment and Dick Clark Productions.

This year’s top 10 was mainly dominated by US tech giants, with Amazon, Google and Uber occupying the first three spots.