The Memory Chip Giant That Dethroned a Dynasty For two decades, state owned energy conglomerates, lenders, and traditional consumer brands dominated China's onshore stock market.
Their massive market capitalizations were a testament to the country's economic transformation. But that era came to an abrupt end last week with the meteoric rise of CXMT, the state backed maker of memory chips.
CXMT's ascent to the top spot is not just a story of a company's success but also a reflection of China's shifting economic landscape.