Top 500 in the world: China Enterprise 100 ranks second

In Fortune 500, the number of Chinese companies on the list increased from 4 in 1996 to 100 today, which can not be separated from the growth of China's economy. However, seeing the increase of the number of Chinese enterprises in the list, we must also see that among the enterprises listed in the list, there are fewer private enterprises and state-owned enterprises, and less assets with more assets and less assets. Analysis, the Chinese companies because of the scale of the list, does not mean "great", but also does not mean that the real world business. Chinese companies really have the world's top 500 there is still some way to go.

In the Fortune Global 500 rankings released on July 7, the number of Chinese enterprises listed for the first time reached 100, ranking second only to 128 in the United States. Sinopec also ranked third in revenue of 457.2 billion U.S. dollars, making it the first time that Chinese companies have entered the top three.

U.S. and Japan reduce China's ranking second

Data show that the first "Fortune" 500 rankings was born in 1955, when the list was limited to US companies. It was not until 1995 that the first comprehensive list of companies in the United States and other countries came into being. It was also the first truly top 500 ranking in the world. According to reporters' earliest data from the Fortune Chinese website, in 1996, there were only 4 listed companies in China (including Hong Kong and Taiwan, the same below). In the latest release of Fortune Global 500 in 2014, the number of Chinese enterprises on the list rose to 100, reaching a record high.

In the past 20 years, on the contrary to the sustained growth in the number of Chinese enterprises, the number of companies listed in the United States and Japan has been declining.

Public information shows that out of the world's top 500 enterprises in 1995, there were 151 companies in the list. Japan lost second place to the United States with the second place with a total of 149 Japanese enterprises on the list, making it Japan's highest record. However, since 1995, Japan's number of listed companies began to decline. The United States peaked in 2002, followed by a decade-long decline.

By 2011, China had 69 listed companies, surpassing Japan for the first time and becoming the country with the largest number of companies other than the United States. In this year's list, only 57 companies in Japan are on the list, a drop of about 62% from the highest year. For the first time, the number of Chinese enterprises on the list reached 100, second only to 128 in the United States, ranking the second place.

The good performance of China in the Fortune Global 500 is not only reflected in the number, but also changed in ranking of enterprises.

This year, Sinopec, ranked No. 1 in China and No. 3 in the world, ranked 73rd when it first entered the Top 500 in 1999, making it the best score for Chinese companies of the year. Since then, its ranking has steadily risen.

The first three Sinopec to replace Exxon Mobil, also broke Wal-Mart, Shell and Exxon Mobil since 2005, the history of the three pillars.

As soon as 2015, China's list of ultra-beauty

"It is an inevitable trend for Chinese enterprises to rise in size and eventually replace the United States." According to Liu Qiao, a professor of finance at Peking University's Guanghua School of Management, according to this rate, the fastest in 2015 or 2016, at least in 2020 , The number of Chinese companies on the list will exceed the United States.

Dr. Feng Licong, director of the Economic Research Department of the Research Department of the China Enterprise Confederation, said that this list can reflect the trend of economic ups and downs between countries to some extent. According to the number of Chinese enterprises and the scale and ranking of individual enterprises, it can also be seen that China's economic growth in the past 20 years has indeed reflected considerable progress in the field of enterprises.

In 2010, China's total economic output jumped from tenth to second in the world, contributing more than 20% to world economic growth. In 2011, China ranked 69th in the list of enterprises, surpassing Japan for the first time and becoming "the world's second".

"It is estimated that this year, the pursuit of the scale of enterprises will come to a new level.It is estimated that there will be more than 110 Chinese enterprises in next year's list, while the number of U.S. companies will continue to decline.So China will catch up with the United States in the last two years "Liu Qiao said.

Magnifier

1 list of corporate distribution reflects the imbalance in China's economic structure

Although the list of the world's top 500 does reflect the development of small and medium-sized enterprises in China over the past 20 years, judging from the distribution of the industrial structure of listed companies, China still takes the heavy industry as the basic feature. Enterprises from the tertiary industry service industry Less.

The main focus in the heavy industry, chemical industry, finance and other fields, these industries with the United States and Japan a contrast, we can find that our industrial structure belongs to the mid-industrial stage, and the United States and Japan industrial structure belongs to the post-industrialization phase, technology-intensive, Knowledge-intensive industries. "According to Feng Li-guo, director of the Economic Research Department of the Research Department of the China Enterprise Confederation, most of the characteristics of an enterprise after entering the post-industrial era are the light asset model, so it is very difficult to achieve such a large revenue. Different stages of development have created so many Chinese companies to enter the list.

This year, most companies listed in the United States and Japan are in the high-tech sectors such as retail, electronics, Internet and modern manufacturing. Most of China's listed companies are oil, electricity, telecommunications, steel and railways.

It is noteworthy that these enterprises are mostly resource monopolies and administrative monopoly industries. Enterprises rely heavily on monopoly of resources and government subsidies for their huge revenues and profits.

Feng Liguo believes that if these enterprises are placed in a highly competitive environment, re-investment and development of light consumption are unsustainable. At the same time, comparing the contribution of China-US financial institutions to profits, we can know how much our country's financial institutions support the real economy.

The average profit of 100 enterprises that China entered the Top 500 ranking this year was 3.11 billion U.S. dollars, lower than the overall average of 3.91 billion U.S. dollars. Compared with 128 companies listed on the list by the United States, the average profits of U.S. companies reached 6.24 billion U.S. dollars, almost twice as much as that of Chinese companies.

More than half of China's total corporate profits come from the profits of 11 listed banks this year. In the United States, where the financial markets are highly developed, the profits of the financial institutions on the list account for only about 10%.

Liu Qiao, a professor of finance at Peking University's Guanghua School of Management, believes that Chinese banks make a lot of money, which is a great irony about China's economic growth model. China's investment-led growth model is not only prone to big business, but also its dependence on the banking system is very high, because direct financing is very underdeveloped and banks can only rely on indirect financing.

2 list companies may not be "good" business

In 2014, China had 100 Fortune 500 companies, not including RTHK and the Mainland, but only 8 private-owned enterprises.

In 1999, Jiangsu Shagang became the first private enterprise in the Mainland to enter the list of the world's top 500 enterprises. In 2010, Huawei was selected for the first time to add new members to mainland private companies listed on the list.

In this year's list, private enterprises such as Shandong Weiqiao, Huawei, Lenovo, Shagang, Geely and Zhengwei continued to rank the list. Among the seven newly listed companies, they also include two private-owned enterprises, Pacific Construction Group and China Watson Energy.

From the list of nearly 20 years, China's entry into the top 500 enterprises is still dominated by state-owned enterprises. However, Liu Qiao believes that in terms of investment returns, state-owned enterprises themselves do not perform well.

Among the top 50 loss-making companies, there are 16 companies in China this year, up from 8 last year. Enterprises that have suffered losses are relatively concentrated in such industries as steel, coal, chemicals and ships gathered by state-owned enterprises. Among them, China Railway Materials Co., Ltd., China Aluminum Corporation, Anshan Iron and Steel Group Company is China's most negative three enterprises.

"It also reflects the list of companies is not necessarily a good business, can only say that the scale is large, a lot of business income." Feng Li Guo pointed out that a good business not only large, competitive, but also gives good impression, reputation, Good reputation, such a business in the United States there are many Japanese.

It is understood that "Fortune" the world's top 500 ranking rules is as of March 31 of the fiscal year revenue ranking. This year, the world's top 500 finalists to raise the threshold again 500 million US dollars, reaching 23.7 billion US dollars, replaced by the RMB has far exceeded 100 billion yuan.

However, entering the world's top 500, not enough to explain any problems, some companies in order to enter the list, in trouble, heavily in debt. Through the inspection of Chinese enterprises, Liu Qiao put it down to "one hundred billion yuan phenomenon."

"Many Chinese enterprises had a clear strategic plan in the past, steady and steady, but once the sales revenue reached 100 billion yuan, from the threshold of the 500 strong just to start a large number of mergers and acquisitions, investment, big projects, the sales revenue to 130 billion , Into the world's top 500. But behind will have a lot of tragedy. "Liu Qiao said.

3 can not be too superstitious list of the world's top 500

Of the 91 companies nominated by the Fortune 500 in mainland China, Feng Li-guo believes that the level of internationalization of enterprises is very low. The 2013 China Top 100 Multinational Corporations and Multinational Indices released by the China Enterprise Confederation show that the top two CNOOC and Sinopec transnational indices are only around 25%.

Feng Li-guo pointed out that the largest 100 multinational corporations average the internationalized assets, personnel and overseas revenues. The transnational index is about 20% each year, and the degree of internationalization is quite low. Chinese enterprises in the world's top 500 is hard to say is an internationally competitive business.

Some commented that, whether it is the top ten in the list of Sinopec, PetroChina, or other enterprises, business distribution, profit sources, brand awareness, the impact is basically limited to China. Apart from Huawei and Lenovo, two so-called "private enterprises" whose international business is still acceptable, the other listed companies basically belong to the real "Chinese enterprises."

In February of this year, Fortune magazine released the 2014 World's Most Admired Companies All-Star List. Apple won the most respected company title for seven consecutive years, while Chinese companies continued to miss the list.

Correspondingly, among the 100 Chinese enterprises listed this year, Industrial and Commercial Bank of China continued to be China's most profitable Fortune 500 company with a profit of 42.7 billion U.S. dollars, an increase of 13% over last year and a higher profit than Apple.

Liu Qiao believes that at least up to now, China has "big fake" enterprises, but the proposition of the lack of great enterprises (high ROI and value creation) still exists.

"China Petroleum ranked # 4 in the top 500 this year with a sales income of more than 400 billion U.S. dollars, but PetroChina's stock market now stands at 200 billion U.S. dollars. After Alibaba was listed on the New York Stock Exchange, the capital market basically valued it Draw Equal.However, upcoming Alibaba in the United States, the sales revenue written in the prospectus is $ 8 billion, well below the threshold of $ 23700000000. "Liu Qiao think, when Chinese companies can not Emphasis on the world's top 500 list, the Chinese enterprises have succeeded.

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A number of Internet companies on the list

Beijing News (Reporter Leung Wei Wei) July 14, "Fortune" Chinese website released China Top 500 list, a total of 36 new companies on the list, including Jingdong, the only product will be selected for the first time.

In the Top 500 Chinese Top Rank released yesterday, Sinopec and PetroChina won the top 10 positions with revenue of 2.88 trillion and 2.26 trillion yuan respectively, despite the fact that Sinopec, PetroChina and China State Construction occupied the top 10 positions. , Two. The third place was won by China State Construction Co., Ltd. with revenue of 681 billion yuan.

However, it is noteworthy that Suning, Tencent, Baidu and NetEase and other 7 Internet companies have listed. Among them, the Suning cloud business ranked No. 43, occupy the top position of China's Internet companies. NetEase ranked fourth in the company with the highest profit margin with a net profit margin of 48.32%, ranking the highest ranked technology company.

This year a total of 36 new companies on the list. Jingdong Mall, just listed in the first half of the year, also appeared on the list for the first time, ranking 79th. Its 2013 revenue was 69.34 billion yuan, but its net loss was 2.485 billion yuan, ranking third in the list of loss-making companies.

In addition to Jingdong, the first Internet companies listed on the list there are only products (421), Sohu (488) and so on. Alibaba yet listed because it is not yet on the list.

The total profits of the 29 financial companies listed this year reached 1.27 trillion yuan, accounting for more than half of all the top 500 Chinese companies.

This year's "Fortune" China 500 list reached the threshold of 82.3 billion yuan, up 13% year on year. In addition, the company's total revenue this year reached 28.9 trillion yuan, accounting for more than half of China's GDP in 2013.

□ Beijing News reporter Liang Weiwei Beijing coverage