Report: Tough road awaits 'Chinese challengers'

As they attempt to achieve a greater international presence, large Chinese companies are facing slower market growth at home as well as fiercer competition from global peers, according to a report released on Tuesday.

In its report, the Boston Consulting Group identified 50 Chinese companies that are becoming major players on the world stage, including Geely, Lenovo, Huawei, and the Industrial and Commercial Bank of China.

Geely acquired Volvo Car in 2010. Lenovo bought IBM's personal computer business in 2005, and ICBC is the world's largest lender by market value.