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china's large enterprises continue to accumulate endogenous development momentum

2024-09-14

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from september 10 to 11, the china enterprise confederation and the china entrepreneur association held the 2024 china top 500 enterprises summit forum in tianjin, and released the 2024 china top 500 enterprises list and analysis report based on the 2023 business revenue of enterprises. participants believed that china's large enterprises, represented by the top 500, actively responded to challenges, worked hard to overcome difficulties, and entered a stage of paying more attention to development quality while maintaining steady development.
focus on entities, economic benefits recover and grow
overall, the revenue scale of the companies shortlisted for the "2024 top 500 chinese enterprises list" has reached a new level, and their economic benefits have recovered.
the 2024 chinese top 500 enterprises achieved a total operating income of 110.07 trillion yuan last year, reaching a new level of 110 trillion yuan, an increase of 1.58% over the previous year; the entry threshold was 47.381 billion yuan, an increase of 383 million yuan over the previous year; the total assets were 428.86 trillion yuan, an increase of 7.28% over the previous year. the 2024 chinese top 500 enterprises achieved a net profit attributable to the parent company's owners of 4509.2 billion yuan last year, an increase of 5.01% over the previous year, and the growth rate turned from negative growth in the previous year to positive growth.
by type, the revenue growth of real enterprises other than finance and real estate was faster, and the profit gap between non-bank enterprises and commercial banks narrowed.
the analysis report released by the research team of the china enterprise confederation and the china entrepreneur association shows that the revenue growth of manufacturing enterprises is the main growth driver of the operating income of the top 500 chinese enterprises in 2024. in contrast, the contribution of service enterprises to the growth of economic benefits is more prominent. specifically, the 264 shortlisted manufacturing enterprises achieved a total operating income of 45.22 trillion yuan in 2023, an increase of 0.89 trillion yuan over the previous year, an increase of 2.01%, and a contribution rate of 52.19% to the growth of overall revenue; the 165 shortlisted service industry enterprises, in 2023, had a total net profit attributable to the parent company of 2.92 trillion yuan, an increase of 0.18 trillion yuan over the previous year, and a contribution rate of 83.33% to the growth of the overall net profit attributable to the parent company of the top 500.
"the entry threshold for the top 500 chinese companies is increasing year by year." zhu hongren, executive vice president and secretary-general of the china enterprise confederation and china entrepreneur association, said that the overall scale of chinese companies represented by the top 500 has reached a new level, and high-quality development has made multi-faceted progress, demonstrating strong development resilience.
focus on research and development to accelerate the transformation of new and old drivers
the top 500 chinese enterprises in 2024 have obvious characteristics of innovation-driven development, with endogenous development momentum constantly accumulating, the transformation of new and old kinetic energy accelerating, the optimization of industrial structure continuing to advance, and the synergy of development enhanced.
rapid growth in r&d investment - the top 500 chinese enterprises in 2024 invested 1,813.7 billion yuan in r&d last year, an increase of 235 billion yuan over the previous year, an increase of 14.89%. the total r&d investment of the top 500 chinese enterprises in 2024 last year accounted for 1.90% of their total operating income, the highest value since 2002.
patent quality continues to improve - the total number of valid patents held by the top 500 chinese companies in 2024 was 2.0297 million last year, an increase of 144,400 over the previous year, a growth of 7.66%. in terms of participating in the formulation of international standards, relevant companies have applied to participate in the formulation of 5,267 international standards, an increase of 275 over the previous year.
emerging industries are developing rapidly - among the top 500 chinese enterprises in 2024, the number of shortlisted enterprises in advanced manufacturing industries such as new energy equipment manufacturing, power and energy storage batteries, communications equipment and computer manufacturing, semiconductor and panel manufacturing, industrial machinery and equipment manufacturing has steadily increased.
during the forum, many participating entrepreneurs also focused on cultivating new momentum.
"fluorine in the upper right corner of the periodic table is the most active non-metallic element. the development of high-tech products in the future society cannot be separated from organic fluorine." li shijiang, chairman of dofluoro new materials co., ltd., said that the company has not only developed a series of new materials represented by electronic-grade hydrofluoric acid and electronic-grade silane, but also explored the application of fluorine in the field of new energy, and developed new products and services such as personal energy treasures, household energy boxes, and social energy systems around the integration of intelligent energy storage and energy saving.
sun yongcai, chairman of crrc corporation limited, said that crrc vigorously promotes integrated innovation, using advanced technologies such as big data, cloud computing, beidou navigation, unmanned driving, and 5g communications to accelerate the iteration and upgrade of rail transit equipment, and realize intelligent perception, intelligent diagnosis, intelligent operation and maintenance, and intelligent services for rail transit equipment. at present, crrc products have served 116 countries and regions around the world.
actively seek change to meet new situations and challenges
at present, china's economy is recovering and improving, and high-quality development is being steadily promoted, but the development environment it faces remains complex and severe. how can we actively seek change and better seize development opportunities?
liu yonghao, chairman of new hope group co., ltd., believes that from high-speed development to high-quality development, enterprises must keep up with the changes of the times and study how to cultivate new momentum and achieve new development. "we are a feed sales company, selling nearly 30 million tons of feed a year. how to save grain is the biggest problem." liu yonghao gave an example, saying that if 300,000 tons of grain are saved every year, it will be equivalent to "saving" the output of millions of acres of farmland in a few years.
"it is not easy to transform from the traditional oil refining industry to high-end chemicals and high-performance materials. we have developed green products in the fields of sulfur chemistry, water resource utilization, and environmentally friendly construction by making good use of resources. at the same time, we empower the company's high-quality development through digital transformation." said zou xiong, president of shandong chambroad holding group co., ltd.
experts believe that "chain leader" enterprises represented by the top 500 chinese enterprises should give full play to their strong influence on the industrial chain, lead the development direction of the industrial chain, drive more upstream and downstream enterprises to grow together, and enhance the overall competitiveness of the industrial chain. (reporter wang junling)
source: people's daily overseas edition
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