The trends are in line with China's massive transformation toward quality development, which is to turn the Chinese economy, once heavily reliant on fixed-asset investment and exports, into a service and consumption-led growth pattern.
Nonetheless, more Chinese private companies started investing in countries and regions along the Belt and Road last year, which fuelled export growth.
"Thanks to the Belt and Road Initiative, around 47 percent of our sales volume came from overseas markets last year. The initiative offers us a good platform to go global. I believe that TCL's growth in overseas markets will continue outpacing that in the domestic market in the future," said Li Dongsheng, chairman of Chinese home appliance giant TCL.
Another trend lies in R&D input increase. R&D workers in 189 private firms on Wednesday's list account for over 10 percent of their total business employment, compared with 12 companies in 2016.
They play a vital role in creating new ideas and technologies that keep companies competitive, create new markets and spur economic growth. "Leading companies have realized the importance of R&D input for firms," said Huang.
Zhang Jin, board chairman of Cedar Holdings Group, said that nation and company alike, their development will be limited if they lack independent innovation.
At the end of 2017, there were 65.79 million individually-owned businesses and 27.26 million private enterprises in China, which employed some 340 million people.
【国内英语资讯:Xinhua Headlines: Chinas private businesses gain momentum amid challenges】相关文章:
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