Photo taken on Sept. 9, 2020 shows the view of the skyscrapers of the Central Business District in Beijing, capital of China. (Xinhua/Chen Zhonghao)
BEIJING, Sept. 29 (Xinhua) -- The latest list of top 500 Chinese enterprises was jointly unveiled by the China Enterprise Confederation and the China Enterprise Directors Association during the 2021 China Top 500 Enterprises Summit held recently, showing the strong resilience and growth of Chinese enterprises.
Data show that the top 500 Chinese enterprises realized the combined operating revenues of 89.83 trillion yuan, up 4.43 percent over the previous year, and their total assets reaching 343.58 trillion yuan, up 10.00 percent compared to that of the enterprises on the 2020 list.
Meanwhile, the threshold of the top 500 Chinese enterprises has been raised for 19 consecutive years to 39.236 billion yuan in 2021.
Analysts generally believe that despite the COVID-19 epidemic and the weak global economy, Chinese companies represented by the top 500 ones have maintained a momentum of steady growth and continued to make positive progress in high-quality development, reflecting China's strong economic resilience.
-- 222 enterprises each realized revenue of 100 billion yuan
According to the list of top 500 Chinese enterprises, the number of companies whose revenues exceeded 100 billion yuan rose to 222, with eight of them reporting revenues of over 1 trillion yuan, including State Grid Corporation of China, China National Petroleum Corporation and China State Construction Engineering Corporation.
The benefits maintained the overall trend of growth, despite of a dropping profit growth rate. In 2021, top 500 Chinese enterprises realized a total profit over 6 trillion yuan, an increase of 7.75 percent compared to that of the enterprises on the 2020 list, and a net profit over 4.07 trillion yuan, an increase of 4.59 percent.
The industrial structure was more optimized. The list of top 500 Chinese enterprises shows an increasing number of enterprises engaged in high-tech industry and modern service industry, with 4 more in communication equipment manufacturing, 3 more in wind and solar energy equipment manufacturing, and 5 more in logistics and supply chain.
The lists representing by top 500 Chinese enterprises reflect the progress made by China's large enterprises in 2020 from multiple perspectives. The large enterprises actively respond to various risks and challenges and show better developing trend than the Fortune Global 500, with remarkable achievements in innovation and development, deepening structural adjustment, and more outstanding position in the global industry, said Wang Zhongyu, president of the China Enterprise Confederation.
-- R&D intensity hit a record high
According to a report released by the China Enterprise Confederation and the China Enterprise Directors Association, the top 500 Chinese enterprises' R&D intensity hit a record high in 2021, with R&D investment accounting for 53.49 percent of the total social R&D investment in the year. The top 500 Chinese enterprises have become a key force in China's R&D investment.
Innovation is the source of competitiveness and a powerful tool for continuous development and expansion of enterprises, said Li Zixue, chairman of ZTE Corporation, adding that ZTE has been committed to providing users with better network performance experience through continuous investment and independent innovation centering on the underlying technologies in the communications field such as algorithms, basic software and architecture.
The top 500 Chinese enterprises have a total of 1,448,600 valid patents, an increase of 224,300 in the number, or 16.89 percent. The top 500 enterprises are playing a leading role in conquering key core technologies and building independent intellectual property rights, said Gao Rui, an associate researcher of the China Enterprise Confederation.
-- More Chinese enterprises listed in Fortune Global 500
The resilience of the top 500 Chinese enterprises is also reflected in their growing international influence. The 2021 Fortune Global 500 includes 143 large Chinese enterprises and half of the top 10 fastest-rising enterprises are based in China.
Large Chinese enterprises should maintain their resilience and make persistent efforts to become world-class enterprises and encourage more Chinese enterprises to make breakthroughs in key core technologies, enhance their positions in the global industrial chain and value chain, and increase their international influence, said Gao Rui.
Wang Zhongyu further pointed out that enterprises should adjust and optimize their management mode and organizational structure according to their own characteristics and environment, with reference to international advanced enterprises, to effectively enhance their ability and level of international operation. At the same time, they should focus on the innovation of transnational business models, actively participate in the formulation of international standards and rules, and promote more Chinese brands and Chinese standards to go global, to enhance their voice in the world and build a good international image.
(Edited by Gao Jingyan with Xinhua Silk Road, email@example.com)