Lenovo Holdings topped China's private firms for the ninth year
in a row, according to the latest annual research report by the
All-China Federation of Industry and Commerce (ACFIC).
The report, which tracks the development of private Chinese
businesses, was released in Beijing yesterday.
With a reported turnover of 118.9 billion yuan ($18.4 billion)
in 2006, Lenovo led all the surveyed private firms, 14 of which
exceeded 20 billion yuan.
A total 3,191 companies, each with an annual turnover of 200
million yuan or more, took part in the study. Their total revenue
was 4.2 trillion yuan, assets 3.21 trillion yuan and post-tax net
profit 187.3 billion yuan.
The top 500 firms employed an average of 7,040 people and each
paid about 187 million yuan in wages. A total of 96 businesses
employed more than 10,000 people and 18 had a workforce of 30,000
or more.
Of the 500 companies, 82.6 percent were located in eastern
China, mostly in Zhejiang (203 companies) and Jiangsu (112
companies) provinces. Only 12 percent and 5.4 percent were based in
the central and western regions, respectively.
More than 60 percent of the firms paid 80 percent of insurances
(pension, medicare and unemployment), Ouyang Xiaoming, director of
ACFIC's economy department, said.
Vice-chairwoman of ACFIC, Shen Jianguo, said development of
private industries had been sound and swift thanks to the robust
economy, the issuing of the State Council's 36 measures to support
development of the private sector in 2005, as well as improved
management in private enterprises.
The report also found that private firms are increasingly aiming
to expand into capital-intensive and technology-intensive
industries through investments and acquisitions.
(China Daily August 7, 2007)
