SZ ranks No. 1 in economic competitiveness

10-26,2020

Shenzhen ranks No. 1 in comprehensive economic competitiveness in 2020 among Chinese cities, according to a report jointly released by the Chinese Academy of Social Sciences (CASS) and Economic Daily.In terms of sustainable competitiveness of Chinese cities, Shenzhen ranks No. 2, following Hong Kong, the report shows.The report, made by researchers led by Ni Pengfei, assistant president to Economic Strategy Research Institute under CASS, surveyed and compared 291 cities in China around indexes in five subcategories under the comprehensive economic and sustainable competitiveness.In comprehensive economic competitiveness, Shenzhen is followed by Hong Kong, Shanghai, Beijing and Guangzhou. Suzhou, Taipei, Nanjing, Wuhan and Wuxi took places 6th to 10th. In sustainable competitiveness, Hong Kong, Shenzhen, Taipei, Shanghai and Beijing took the first five places. Guangzhou, Suzhou, Nanjing, Qingdao and Wuhan rounded out the top 10.In the subcategories, Shenzhen takes first place in local element competitiveness and economic vitality, second place in environment resilience, fourth place in business environment, No. 5 in global connection competitiveness, No. 6 in tech innovation, No. 8 in business environment competitiveness and No. 10 in living environment competitiveness.In terms of overall layout, the layout of metropolis circles and incremental economic competitiveness are two major reasons leading to differences in competitiveness. The overall economic competitiveness in China is considered strong in the east and the south, weak in the west and the north. Competitiveness is seen as rising in the east and south, stable in the west and declining in the north.In regional development, the competitiveness in the south is getting stronger, the north is getting weaker and the central and eastern areas are becoming more integrated. The metropolis circles headed by a central city, or several central cities, has become the backbone for the urban comprehensive economic competitiveness of Chinese cities, the report shows. The competitiveness of city clusters in the central and southern areas near Bohai Sea in Liaoning Province is much lower than the city clusters at the mouths of the Yangtze and Pearl rivers. The city clusters in Central China are on the rise.The competitiveness among the first- and second-tier cities has become stronger due to small differences.

Private firms take up 84 percent of city's top 500

10-22,2020

Ping An, Huawei and Amer Group are the top three of 2020's Top 500 Shenzhen Enterprises, and are followed by Evergrande, China Merchants Bank, Tencent, Vanke, BYD, SF Express and CGN, according to a report released at a summit Tuesday.The report indicated that for an enterprise to be among this year's top 10 in Shenzhen, business income was at least 100 billion yuan (US$15. 3 billion) in 2019, up 10 percent over the threshold last year.The report was released at the forum organized by Shenzhen Enterprise Confederation and Shenzhen Entrepreneurs Association at the Shenzhen Convention and Exhibition Center in Futian District. It revealed that the top 500 Shenzhen enterprises showed robust vitality and kept high-quality development in the face of complicated economic situations at home and abroad. The business revenue of the top 500 enterprises in 2019 was 7.62 trillion yuan, equivalent to 2.8 times the city's GDP in 2019.Among the 500, 422 are private enterprises, making up 84 percent of the total. The revenue of private enterprises in 2019 made up 74.15 percent of the total, and net profits made up 69 percent of the total. Nearly 60 percent of the private enterprises realized profit growth. The revenue of State-owned enterprises (SOEs) had a 19.39 percent increase in 2019 over 2018. The average revenue and profit of SOEs within the top 500 enterprises were 25.3 billion yuan and 2.7 billion yuan, respectively.Among the enterprises, more than half of them are engaged in high-tech industries.

Private firms become backbone of SZ's economy

10-09,2020

The private economy has become the backbone of Shenzhen's high-quality development, as the city pushes for a level playing field for private companies, Shenzhen Special Zone Daily reported.As of Sept. 28, the number of private business entities in Shenzhen exceeded 3.4 million, accounting for 98.1 percent of all business entities in the city, according to statistics from Shenzhen Institute of Standards and Technology (SIST).The total number of private enterprises reached 2.14 million, accounting for 97 percent of the total number of enterprises in the city, data from SIST showed.Shenzhen's entrepreneurial density ranks first in China. According to statistics, the city has 159 private enterprises per 1,000 people. At present, the number of employees at private enterprises in Shenzhen has topped 9.49 million, accounting for 87 percent of all employees in the city.From January to August this year, 203,100 new private enterprises, an increase of 14.45 percent over the same period last year, were set up in Shenzhen. This means about 1,246 new private enterprises are being registered every working day on average.In recent years, Shenzhen has continuously ramped up efforts to promote the healthy development of private enterprises, reducing the burden of enterprises with practical actions.In strategic emerging industries, the contribution rate of private economy to economic growth has exceeded 50 percent.From the beginning of this year to Sept. 28, the number of newly established private enterprises in strategic emerging industries reached 19,800, an increase of 32.46 percent over the same period last year, statistics from SIST showed.Fang Xianyang, founder of Shenzhen Anxing Information Technology Co. Ltd., attributed the rapid rise of private firms in Shenzhen to the city's ever-improving business environment."The government departments have led all parties to create a good business environment, attracting entrepreneurs to operate business in the city," Fang told the Daily.

24 SZ enterprises among China's top 500

09-30,2020

A Total of 24 Shenzhen enterprises are listed in China's Top 500 Companies in 2020, which demonstrates the city's strengths in high technology, Internet, finance and advanced manufacturing.Local companies on the list include Ping An, Huawei, Amer, Evergrande, China Merchants Bank, Tencent and Vanke.High-tech giant Huawei ranks 11th and Tencent takes 52nd place. Financial conglomerate Ping An Insurance Group and retail banking leader China Merchants Bank take the sixth and 48th spots, respectively. Advanced manufacturing firms such as BYD and Luxshare Precision have also made it onto the list.To encourage local companies to expand their presence, firms that break into the Fortune Global 500 list and China's Top 500 Companies list for the first time will receive a reward of 30 million yuan (US$4.39 million) and 10 million yuan, respectively, from the Shenzhen government.This year, the number of Chinese enterprises with operating revenue of more than 100 billion yuan in the list reached 217, an increase of 24 compared with 194 in the previous year. Among them, 13 Shenzhen enterprises have entered the "¥100 billion club."The list, compiled by the China Enterprise Conference and China Enterprise Directors Association, has been published for 19 years in a row.According to this year's list, China's largest 500 firms have generated a staggering combined revenue of 86 trillion yuan, an increase of 6.92 trillion yuan over the previous year. Three Shenzhen-based companies, Ping An, Tencent and China Merchants Bank, are among the top 10 most profitable companies in China.A separate report accompanying the list shows that 22 local companies have entered the annual ranking of the country's top 500 manufacturing enterprises.Huawei ranks second and Amer fifth among the top 100 Chinese manufacturing enterprises in 2020. BYD and ZTE take the 67th and 99th places, respectively.Of the 24 Shenzhen companies, 14 are related to the communications equipment manufacturing industry and are engaged in electronic information business.In 2019, the scale of Shenzhen's information and communication technology industry hit 2.78 trillion yuan, ranking first among large and medium-sized cities in China.

City sees more firms in emerging industries

09-23,2020

The number of newly registered companies in Shenzhen in strategic emerging fields, such as new information technology, digital economy and marine economy, grew by over 40 percent from a year earlier by the end of August, according to data released by the Shenzhen Municipal Market Supervision and Regulation Bureau."In August alone, we saw 3,269 newly registered enterprises in the city's seven strategic emerging industries, up 41.6 percent year on year," said Zhong Xin, deputy director of the city's enterprise registration bureau.The year-on-year growth rates of the number of firms in new information technology, digital economy, marine economy, high-end equipment manufacturing and new materials are 44.5 percent, 58.2 percent, 75 percent, 31.5 percent and 22.7 percent, respectively, according to Shenzhen Special Zone Daily.By the end of August, there were some 3.45 million business entities in Shenzhen, up 9 percent year on year.The new enterprises are mainly located in Longgang, Bao'an, Futian, Longhua and Nanshan districts.Newly registered foreign-funded companies are mainly registered in Futian and Nanshan districts, accounting for 59.4 percent of the total foreign-invested firms in the city.The newly registered business entities are mainly from the tertiary industry and high-end service industry such as retail businesses, dining, accommodation and business services.In July, the number of the city's tertiary industry companies accounted for 95 percent of the total, according to Lai Liying, deputy director of the city's enterprise registration bureau.Guo Lei, an industry development consultation expert, suggested the government issue related industry support policies to enable the city to become an incubator for the development of the country's strategic emerging industries.The city's seven strategic emerging industries are new information technology, high-end equipment manufacturing, green and low-carbon technology, biomedicine, digital economy, new material and marine economy.

New tech can recharge phones wirelessly from 120 meters

09-18,2020

A local company has launched a wireless power transfer (WPT) technology that makes long-distance power transmission safe, reliable and cost-effective. The technology is considered to be a disruptive invention that might change methods of power transmission throughout the world, Shenzhen Economic Daily reported Thursday.With this technology, you can recharge your phones wirelessly at a distance as far as 120 meters away from the power source if your phone is installed with a new chip for the purpose, the paper said.Chen Zhe, operating partner of the company called Sihe Rui (Shenzhen) New Technology Co. Ltd., said at a release event Wednesday that the self-developed direct wave wireless technology can achieve power transfers at distances greater than 120 meters.At this distance, the received power can reach 12 watts (laboratory distance is more than 1.6 kilometers), while the distance of other WPT technologies is measured in millimeters.At present, the conversion efficiency of a mainstream WPT system is 70 to 90 percent, but the conversion efficiency of the company's new WPT system can reach 95 percent, which is close to the efficiency of wired transmission, according to the company.According to Chen, the company's wireless technology is also safe as it has a low frequency and does not emit radiation.Different from the existing mainstream WPT technology, which is at a frequency of 6.78 MHz, the company's system adopts a frequency range of 3 to 6 MHz, which avoids the damage that high frequencies can do to the human body, said Chen.

Foreign-funded companies to be rewarded for investment

09-16,2020

Foreign-invested enterprises registered in Shenzhen will be given varying amounts as an incentive according to the actual amount of investment in 2020, according to the draft rules of rewarding newly set up foreign-invested companies or those that increase capital.Released by the Shenzhen Municipal Commerce Bureau, the draft rules aim to promote high-quality economic development by utilizing foreign capital.According to the rules, incentives will be given to foreign-funded projects with actual amounts of foreign capital having been put into place in 2020 by existing or new foreign investors.Enterprises with annual actual use of foreign capital of US$5-10 million, US$10-20 million and US$20 million and above, will be awarded 1 million yuan (US$147,400), 2 million yuan and 2.5 million yuan, respectively.The maximum amount of rewards for a foreign-invested enterprise shall not exceed 2.5 million yuan in one year, according to the rules.

Measures unveiled to support leading firms

09-15,2020

The Shenzhen Municipal Reform and Development Commission recently unveiled an action plan to support major enterprises playing a leading role for high-quality development of key industrial chains.The action plan has 10 detailed measures to help vanguard enterprises improve their driving ability in industrial chains, research and innovation capability and market leading actions by congregating resources for enterprises, supporting innovations by enterprises and strengthening their advantages as enterprise clusters.To help the leading companies in the industrial chain core driving and radiating roles for high-quality development, the plan will promote the coordinated development of enterprises upstream and downstream of the industrial chain by setting up high-quality industrial congregation areas and forming a stable industrial ecological circle.The capabilities of leading enterprises in integrating supporting facilities and their comprehensive competitiveness will be enhanced. Its role in safeguarding the safety of industrial chains will be further maintained.Shenzhen will plan and construct some scientific platforms and facilities to provide technological support and improve the innovative capability of leading enterprises by making up technological shortfalls, and ensure key and core technologies are self-relient and under control. The industrial leaders are also encouraged to carry out research in partnerships with enterprises upstream and downstream of the industrial chain. The plan will support them to develop research on core technologies, next-generation technologies and take the initiative for development.The plan supports leading enterprises to optimize their strengths, renew technologies and products and strengthen their presence in both domestic and global markets by providing application scenarios for their technologies and products, and enhance their advantages as brands of high quality.

Huawei tops China top 500 private firms list

09-14,2020

Shenzhen-based company Huawei has retained the top spot on the top 500 Chinese private companies list this year, with a revenue of 858.83 billion yuan (US$125.64 billion), Shenzhen Special Zone Daily reported.The top 500 list, which was unveiled Thursday at the China Top 500 Private Enterprises Summit 2020 held in Beijing, is an annual ranking conducted by the All-China Federation of Industry and Commerce (ACFIC).A total of 27 Shenzhen companies, including Huawei, Amer, Evergande, Vanke, BYD and SF Express, made it onto the list this year. Delivery giant SF Express broke into the top 50 Chinese private companies for the first time.The threshold for the 500 largest private enterprises stood at 20.2 billion yuan in revenue, up by 1.62 billion yuan from 2019. The thresholds for the top 500 private enterprises in the manufacturing industry and the top 100 private enterprises in the service industry both increased compared with the previous year.According to the report released by ACFIC, Huawei continues to rank first among the top 500 private enterprises and the top 500 private enterprises in the manufacturing industry this year.Suning and Amer International, both moving up one spot compared with last year, entered the top three.Evergrande Group ranked first in the total assets of the top 500 private enterprises with 2.21 trillion yuan, the report showed.SF Express took 45th place on the list with a revenue of 112.19 billion yuan, 17 places higher than last year, and ranked first in the express delivery industry.China's top 500 private enterprises saw steady growth in their ability to innovate during 2019. Within the leading 500 firms, the key technologies of 402 companies were mainly developed independently, accounting for 80.4 percent of the total.The number of valid patents obtained by the top 500 companies grew by 8.46 percent in 2019, while the figure for international patents also increased significantly, according to the report.