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2021 China Top 500 Private Enterprises Summit opens in Changsha

Date:2021-10-08 09:53:00

The list of China’s top 500 private enterprises for 2021 was released.
Huawei, JD.com and Hengli Group are the top three enterprises on the list.

 
The 2021 China Top 500 Private Enterprises Summit, co-hosted by All-China Federation of Industry and Commerce (ACFIC) and the People’s Government of Hunan Province, was held in Changsha, Hunan, on September 25, 2021. Themed on “Private Enterprises Contribute to the Building of a New Development Paradigm”, the summit earnestly studied and implemented Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, and thoroughly learned Chinese President Xi Jinping’s speech at the ceremony marking the 100th anniversary of the founding of the Communist Party of China and his instructions on promoting the development of the private economy. The summit guided private enterprises to grasp the new stage of development, implement the new development philosophy, get integrated into the new development paradigm, realize high-quality development, and make new contribution to comprehensively building a modern socialist country and realizing the Chinese dream of national rejuvenation.

 
The summit was addressed by Gao Yunlong, vice chairman of the National Committee of the Chinese People's Political Consultative Conference (CPPCC) and chairman of ACFIC, Xu Dazhe, the leader of Hunan Province, Xu Xiaolan, vice minister of Ministry of Industry and Information Technology, Hong Tianyun, deputy head of the National Administration for Rural Revitalization, Zhang Weiwu, vice president of Industrial and Commercial Bank of China (ICBC), and Wang Hao, vice president of China Construction Bank (CCB). Xu Lejiang, executive vice chairman of ACFIC, Mao Weiming, governor of Hunan Provincial People's Government, and Li Weiwei, the chairman of Hunan CPPCC, attended the conference. Fan Youshan, vice chairman of ACFIC, presided over the summit and released the list of China's top 500 private enterprises for 2021, China's top 500 manufacturing private enterprises for 2021, and China's top 100 private enterprises in the service industry for 2021. Huang Rong, vice chairman of ACFIC, released the annual report on the top 500 Chinese private enterprises.
 
Gao Yunlong pointed out that at the celebration of the centenary of the founding of the Communist Party of China, Chinese President Xi Jinping outlined the second centenary goal of building a modern socialist country in an all-round way, which greatly inspired private businesspeople and boosted their confidence, and stimulated private enterprises to forge ahead so as to achieve greater glory.
 
Gao put forward six proposals for private enterprises. First, it is hoped that private enterprises could follow the leadership of the party, serve the overall situation of economic and social development, abide by the fair competition system, create a sound market environment, adhere to the balanced development and security, and play an active role in promoting technological progress, flourishing the market economy, making the people's lives convenient and participating in international competition. Second, private enterprises should concentrate on their main business, grasp the industry development trend, focus on core technologies of key areas, speed up the pace of moving towards the medium-high end of the value, stick to their areas of expertise, and strengthen the high-quality brand building. Third, private enterprises are prefered to make unremitting efforts to pursue innovation, increase investment in research and development, attach importance to personnel training, set the carbon peak and carbon neutrality targets in line with their actual conditions, and encourage more top 500 enterprises to move towards the high end of the global industrial chain, the innovation chain and the value chain. Fourth, private enterprises should adhere to the bottom line of guarding against risks, establishing risk management systems, improving debt types and term structures, enhancing the scientific nature and effectiveness of investment, cherishing business reputation and credit records, and keeping all kinds of risks under control. Fifth, it is hoped that private enterprises will make contribution to the common prosperity and actively participate in the public welfare and charity, the strategy of rural revitalization, the Guangcai Program and the campaign of "Ten Thousand Enterprises Help Ten Thousand Villages", so as to set an example of "being rich with morality, love and responsibility". Sixth, private enterprises should strive to cultivate modern corporate culture, consciously draw wisdom and strength from modern corporate culture and historical commercial culture to realize creative transformation and innovative development of traditional Chinese commercial civilization, and absorb all reasonable contents of human commercial civilization value so as to jointly promote the process of modern commercial civilization.

 
According to Xu Dazhe, on the new journey of building a modern socialist country in an all-round way, Hunan was firmly implementing the spirit of Chinese President Xi Jinping's important speech when inspecting Hunan and closely following the goals of the "Three Highlands and Four New Missions", so as to turn Xi's grand blueprint for Hunan into reality as soon as possible. With the implementation of policies such as the strategy of the rise of central China, high-quality development of the Yangtze River Economic Belt, and the construction of the Triangle of Central China and the Changsha-Zhuzhou-Xiangtan Metropolitan Area, the development of Hunan will surely unleash huge dividends. He sincerely hoped that private enterprises would seize the opportunities to realize high-quality development while actively meeting the requirements of Hunan's development. Hunan would take the first anniversary of Xi Jinping's visit to Hunan as a new starting point, and take advantage of this summit to take more practical and powerful measures to support and promote the private economy to become better, stronger and bigger.Hunan would give better play to the important role of private enterprises in implementing the strategy of "Three Highlands and Four New Missions" and building a modern new Hunan. Hunan should adhere to the basic policy of "Two Unshakable" and strive to build a policy system to promote the healthy development of the private economy. Hunan would closely follow the strategic objectives to implement the strategies, focus on building a platform for private enterprises to innovate and starting businesses, continue to optimize the business environment, and strive to create a strong business-friendly atmosphere. Hunan would vigorously promote entrepreneurship so as to build a team of high-quality entrepreneurs in the new era. Leaders at all levels in Hunan should firmly keep in mind that private enterprises and private entrepreneurs are on our side. Hunan would should support, encourage and care for them, so that more and more entrepreneurs would fall in love with Hunan and settle in Hunan.
 
Huawei, JD.com and Hengli Group are the top three enterprises on the list of China's top 500 private enterprises for 2021. The top three enterprises among the top 500 manufacturing private enterprises are Huawei, Hengli Group and Amer International Group. JD.com bags the first spot among the top 100 private enterprises in the service industry, followed by Alibaba Group and Tencent Holdings.
 
According to the report on the top 500 Chinese private enterprises for 2021, in 2020, while doing a good job in epidemic prevention and control and accelerating resumption of production, the top 500 private enterprises continued to strengthen innovation, made breakthroughs in key technologies, improved quality to build brands, strengthened corporate governance, took the initiative to prevent and resolve all kinds of risks and challenges, and constantly enhanced their core competitiveness. The main indicators have been further improved. The entry threshold for the top 500 private enterprises reached 23.5 billion yuan for this year's ranking, 3.3 billion yuan more than last year. Ninety-eight of the top 500 have total assets exceeding 100 billion yuan, and 18 firms were added to the list this year. Thirty-one of the top 500 private enterprises are on the list of Fortune Global 500. 

 
Huang Qifan, the former mayor of Chongqing and a distinguished professor of Fudan University, Liang Wengen, vice chairman of ACFIC and chairman of Sany Group, and Cui Genliang, vice president of China Society for Promotion of the Guangcai Program and chairman of Hengtong Group, made keynote speeches.
 
The conference was attended by leaders of ACFIC and Hunan Province, comrades of relevant departments of China Society for Promotion of the Guangcai Program, the Ministry of Industry and Information Technology, the State Administration for Market Regulation, the National Administration for Rural Revitalization, ACFIC, ICBC and CCB, relevant experts and scholars, representatives of the top 500 Chinese private enterprises, small and macro enterprises, representatives of provincial industrial and commercial federations, comrades of relevant departments of Hunan Province and municipal and prefectural people’s governments, and representatives of Hunan private enterprises and chambers of commerce.

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