"The development of private investment and businesses are key to China's economic vitality. Changes on the 500 top private firms list show new trends in the country's economy," said Zhang Wanqiang, an economist with Liaoning Provincial Academy of Social Sciences.
The trends, observed by Hu Biliang, an economist with Beijing Normal University, include industrial structure optimization, fewer irrational outbound investment and more research and development (R&D) input.
"China's private businesses continued to take on a sound development momentum in 2017," Huang said, adding the private companies have steadily optimized its industrial structure with greater contribution to society.
Last year, 162 private firms in the service sector were on the list, up 38.46 percent compared with the figure in 2017. Meanwhile, the number of firms in the secondary industry fell in the fifth consecutive year from 380 in 2017 to 333 in 2017.
The number of export-oriented firms on the list declined from 259 in 2016 to 230 last year. The total exports of the top 500 private enterprises dropped by 16.28 percent year on year to around 125.2 billion U.S. dollars in 2017.
"The number of overseas investment projects for top 500 private firms has declined in 2017, for the first time in over the past five years," said Wang Zhile, head of Beijing New Century Academy on Transnational Corporations.
"The decline is a result of the government's strengthened efforts to curb irrational outbound investment and companies' more prudent attitude toward overseas projects," said Hu.
【国内英语资讯:Xinhua Headlines: Chinas private businesses gain momentum amid challenges】相关文章:
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