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"China's total gold output decreased as the industry is upgrading the production techniques and cleaning up some mining rights issues," said Zhu Yi, senior analyst of metals and mining at Bloomberg Intelligence.

"China's strong performance on the Midas List demonstrates that the country is continuing to produce a number of high-growth and highly-valued companies. While sometimes unknown in the US, these businesses can become globally significant, such as with Bytedance, the owner of popular app TikTok (known as Douyin in China), and they generate returns any venture capitalist would desire," added Konrad.

"Currently, Ingenico China is mainly focused on the retail and travel business, and it is set to look for more business opportunities in games, the sharing economy, overseas education and other promising sectors in the future."

"Chinese demand is huge. This is an opportunity for India to raise exports," said Atul Ganatra, president of the Cotton Association of India.

"Chinese major enterprises represented by the top 500 continue to post steady growth and see structural optimization," said Wang Zhongyu, president of the China Entrepreneur Association, the institute that released the latest top 500 list.