EURACTIV PR

An easy way of publishing your relevant EU press releases.

The next generation of China’s corporate global giants

Date

04 Sep 2019

Sections

InfoSociety
Competition

ACCA (the Association of Chartered Certified Accountants) has identified the 100 fastest-growing Chinese businesses emerging as global corporations – based on analyses of historical performance and their potential for future growth.

Together with the Shenzhen Finance Institute, ACCA has conducted in-depth research of nearly 3,000 private enterprises listed in China and overseas.

The research stems from 11 specially designed diverse indicators, with five of these measuring the companies’ historical performance and six predicting their future growth. These factors include the company’s size, growth, profitability, innovativeness, level of internationalisation, and media coverage.

Helen Brand, chief executive of ACCA says: ‘ACCA has been monitoring China’s rising corporates and businesses, with an original report in 2014, followed by further analysis in 2016. What’s clear across all reports is the aspiration to go global, with many Chinese firms already doing so. This most recent report indicates that many of these businesses will become China’s next generation of global corporations over the next few years if they continue on their current trajectories.’

Key findings include:

  •  Internet: More high-tech enterprises have evolved into the leaders of China’s future economic growth. Among the Top 100 companies, 42 companies are engaged in the computer and internet-related sectors. Since the 2016 ranking, the number of internet enterprises has increased by 50%.
  • Diversity: China’s future giants represent a fairly diverse range of industries. Those listed overseas tend to be involved in the internet, software development and other related sectors. The seven companies which are listed on the Hong Kong Stock Exchange (HKEX) are in the manufacturing, medicine and internet sectors.
  • Highest performers: The companies with the best overall rankings had better scores than other companies for corporate scale, growth, cash flow, overseas strategy and media coverage.
  • Common features: Despite not being widely-known internationally, the top-ranked enterprises have had a relatively rapid growth and support innovative development with a long-term vision and international strategy, enjoying positive media coverage and having a strong focus on R&D.
 
The report also profiles three companies as case studies:
 
1)    Sunway Communication started out as a supplier of mobile device antennas in 2006 and is now a big player among global suppliers, with its focus on maintaining an technological edge, achieving organic growth, pursuit of long-term goals and grasping the best moment to become involved in the new technologies.
 
2)    Autohome Inc began life as a traditional media company in 2005 and is undergoing a successful evolution into the world’s most-visited car website. Even with the decline in growth and fierce competition in China’s current automobile market, Autohome was able to outperform its benchmark and recorded a 39% year-on-year growth in net profit.
 
3)    Aier Eye Hospital is a leader in ophthalmology with significant growth, offering various types of diagnosis and treatment, surgery and optometry services, with a network spread across mainland China, Hong Kong SAR of China, Europe and the US. The chain has treated almost 6 million patients in over 560,000 surgeries. Among all the companies ranked earnings Aier Eye Hospital achieved the highest scores in earnings quality and cash flow among all the companies ranked.

The full report is online here: https://www.accaglobal.com/gb/en/professional-insights/global-economics/Chinas-Next-100-Global-Giants-2018.html

- ends -

For media enquiries, contact:

newsroom@accaglobal.com

Twitter @ACCANews

About ACCA

ACCA (the Association of Chartered Certified Accountants) is the global body for professional accountants, offering business-relevant, first-choice qualifications to people of application, ability and ambition around the world who seek a rewarding career in accountancy, finance and management.

ACCA supports its 219,000 members and 527,000 students (including affiliates) in 179 countries, helping them to develop successful careers in accounting and business, with the skills required by employers. ACCA works through a network of 110 offices and centres and 7,571 Approved Employers worldwide, and 328approved learning providers who provide high standards of learning and development.

Through its public interest remit, ACCA promotes appropriate regulation of accounting and conducts relevant research to ensure accountancy continues to grow in reputation and influence.

 

 

Jobs

The Brussels Times
Production Reporter
UIPI - International Union of Property Owners
Project Officer
AIJN - European Fruit Juice Association
Technical and Scientific Affairs Manager
The German Marshall Fund of the United States
Trainee Program
European Research Infrastructure for Translational Medicine (EATRIS)
EU Project Manager
EU-Logos Athéna
Policy Analyst
Hanover Communications
Digital Policy Internship
European DIGITAL SME Alliance
Policy and Communications Trainee