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Top Chinese company valuations tumble amid crackdown: Hurun report

Drops led by tech and property sectors; Tencent, Alibaba out of global top 10

The 35 Chinese companies in the Hurun Research Institute's ranking lost 52% of their value, their steepest fall since the annual list's inaugural edition in 2020. (Source photos by Reuters)

SHANGHAI -- The value of China's top companies has plunged by more than 50% in two years on the back of weak markets and a crackdown on the tech and property sectors, according to a new global ranking.

The report by the Shanghai-based Hurun Research Institute also found that the value of 500 companies on its global list tumbled 19% to $47 trillion in the same period, with some 340 groups declining or staying flat.

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