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7 Chinese firms rank among top 10 innovative biz entities in Asia: survey

Industry 15:12 December 06, 2018

SEOUL, Dec. 6 (Yonhap) -- Seven out of the 10 most innovative tech companies in the Asia-Pacific region were from China, with four South Korean firms making it to the top 100 such enterprises, a survey by a global consulting firm showed Thursday.

According to the "2018 Technology Fast 500 Asia Pacific" by Deloitte, Chinese open platform real estate listings provider Ke.com took the top spot by logging a 32,179 percent sales spike over the past three years.

Including Ke.com, China claimed the majority of the top 10 with seven firms, Deloitte said, adding that two Indian firms and one from New Zealand were also on the list.

Deloitte looked into all technology-based business entities in nine countries in the Asia-Pacific region, including China, India, Japan, South Korea, and Singapore, to choose 500 innovative tech firms. The selection was based on corporate yearly revenue over the past three years to assess the companies' technological innovation, entrepreneurship and rapidity of growth, according to the consulting firm.

This year, the top 10 companies achieved an average revenue growth of 17,314 percent, and the top 500 firms reported a 987 percent expansion. Both figures were the highest since Deloitte began drawing up the rankings 17 years ago, it noted.

"China has the top performing company in all sectors except Clean Energy. As has been the trend for the past six years, software continues to dominate sector growth," the company said in a release.

Among the top 100, four South Korean firms were included. Aloys Inc., a hardware company, came 60th by reporting a 1,576 percent sales increase; LegoChem Biosciences, Inc. was 77th; Energy Material Technology Co., Ltd. was 81st; and Kolon TissueGene, Inc. came in at 89th.

Of the 500 firms, 44 firms were from South Korea and nearly 30 percent came from China, according to Deloitte.

7 Chinese firms rank among top 10 innovative biz entities in Asia: survey - 1

graceoh@yna.co.kr
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