Once nearly half, China's market capitalisation is now 5x India's

The combined market capitalisation (m-cap) of Chinese companies touched the $10-trillion mark again, after a gap of five years, on Wednesday. China’s m-cap stands at 4.8x that of India, a gap that could expand to record levels following the stock market debut of Alibaba-backed Ant Financial.

It has been a huge change in fortunes, with India’s m-cap nearly double that of China back in 2006. According to Bloomberg data, China’s m-cap stood at just $407 billion in May 2006 — 45 per cent below India’s m-cap of $745 billion. In the following decade, however, the dragon nation raced ahead with its