Although the data of Chinese enterprises on the list still ranks first in the world.
However, from the data and comparison, it can still be seen that there are still three obvious shortcomings of Chinese listed enterprises:
The first short board: the average profit level of enterprises is low.
The combined profits of the Chinese companies on the list are $560 billion, while the combined profits of the US companies on the list are $1.088 trillion, nearly twice that of China.
The second short board: state-owned enterprises and central enterprises dominate the list. In this year's list, there are 118 state-owned enterprises on the list, more than two-thirds of which are from China, and only three of China's top 20 companies are not state-owned enterprises.
Therefore, most of the 142 Chinese enterprises on the list are state-owned enterprises, of course, the development of private enterprises in recent years is obvious to all, but also the emergence of many excellent private enterprises, and continue to enter the world's top 500, but also from the side shows that the private economy has huge room for improvement.
Third drawback: banks capture most of the profits.
In the annual list of the world's top 500, 40% of the profits of China's shortlisted enterprises are "taken away" by the banking industry, the net profit of Industrial and Commercial Bank of China is 360 billion yuan, and the combined profit of the four major banks exceeds 1 trillion yuan.
This year's ranking by Fortune magazine classifies all companies according to their areas of operation. The so-called sector includes a number of sub-sectors.
For example, the financial sector includes banks, insurance companies, diversified financial companies, and real estate enterprises.
The list of 135 Chinese mainland (including Hong Kong) companies is divided into 15 business sectors.
Of the 15 operating areas, only four have a return on sales of more than 5% : finance, transportation, telecommunications and high technology. Among the 26 companies in the financial sector, nine are banks. In addition to the big four state-owned banks, there are Communications, China Merchants, Industrial Development, Shanghai Pudong and China Minsheng Bank. As always, the nine banks on the list are far ahead of the pack.
The average sales revenue of the nine banks is $119.1 billion, the average profit is $26.1 billion, and the sales return is as high as 21.9%.
Nine banks made a whopping $234.7 billion in profits, accounting for 44% of the $528 billion earned by all 135 companies on the list, including Hong Kong.
In plain English, the profits of nine banks accounted for half of all 135 companies on the list.
Financial profiteering can be seen, but this is definitely not a good signal: the essence of finance is to serve the real economy, and the banking industry has become the most profitable and most lucrative industry, what can be said?
In China, basically all industries, whether state-owned or private, are working for banks, and only banks can make stable and sustained money.
In a developing country with export and manufacturing as the core of the industrial economy, the most profitable is the financial industry, which is the bank. A developed country that is driven by capital, reaps hegemony, and has an absolute say in the financial market, the most profitable is technology companies and the technology industry.
Facing the reality and seeing the gap clearly is the inevitable choice for China to realize its real rise.
