Two Chinese companies make it to Fortune's top-10 list
19 Aug 2009
Five Chinese companies have made their way onto Fortune's list of the 100 fastest-growing firms in the world, with two among the top 10, the magazine said on Monday.
Sohu.com, a popular Chinese internet portal, ranked third on the list, and China's biggest online-gaming company Shanda took the seventh spot, the magazine said in a statement.
The list - to be included in the 31 August issue – used to track only US companies and for the first time refers to businesses around the world, Fortune said. "Since the Great Depression, some companies just keep growing. And not only in the United States," it added.
Companies were ranked based on their revenue, profit growth and total return in the past three years.
Bill Powell, Fortune's Shanghai-based editor, said a lot of US firms took a hit from the global crisis, with the financial services industry and its suppliers being "the biggest casualties", while that was "less true" in China.
"Obviously the financial crisis cut a broad swath through growth certainly in the US in the fourth quarter of last year -- basically the economy fell off the table," he said. "And while we had slower growth here in China for the year as a whole, obviously growth was strong."