Taiwan leads China in best SMEs list

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SINGAPORE, Sept 20 (AFP): Technology firms dominated as Taiwan led China in a list of the best 200 Asian companies with annual revenues of under one billion US dollars, Forbes Asia business magazine said today.
Taiwan had 41 small and mid-sized companies named as winners against China's 23, the publication said in a statement unveiling this year's "Best Under A Billion" ranking.
Taiwan and China split in 1949 at the end of a civil war. Beijing maintains Taiwan is part of its territory and has repeatedly threatened to invade the island should it declare formal independence.
Hong Kong, a special administrative region under China, tied with economic powerhouse Japan with 22 companies each in the Forbes Asia list.
South Korea had 21 companies on the list, trailed by Singapore with 20, India 17, Australia 12, Malaysia nine, Thailand five, New Zealand four and Pakistan two. The Philippines and Sri Lanka had one each.
Nearly all 41 Taiwanese companies on the list are from the information technology sector, Forbes Asia said. Eight out of 10 companies on the overall list are making their debut this year.