From the perspective of China and the Chinese, a few exclusive personal thinking points: 1, in 2023, the Fortune Global 500 list includes real estate companies in the financial sector.
Among the 26 financial companies, there are five real estate companies, namely Vanke, Poly Group, Greenland, Country Garden and Longfor Group.
Of the five real estate companies on this year's list, Country Garden lost $900 million.
Vanke and Longfor earned more than $3 billion, which is not the average level of Chinese companies on the list. It can be seen that the real estate industry is facing difficulties in growth.
- A total of 41 enterprises (excluding Lenovo) are included in the four business areas of finance, transportation, high-tech and telecommunications, and the other 94 enterprises on the list are concentrated in 11 business areas, including traditional businesses such as energy, materials, industrial manufacturing, automobiles and engineering construction.
Companies in these business areas have modest returns on sales, often just 1 to 3 per cent. For example, there are 20 enterprises included in the field of materials, and in addition to the two building materials companies of China Building Materials and Anhui Conch, the other 18 belong to metal materials companies, including 11 steel and 7 non-ferrous metal enterprises.
The average sales revenue of 20 metal smelting and processing enterprises is 58.8 billion US dollars, the average profit is 890 million US dollars, and the sales return rate is 1.5%.
Since 70% of the companies on the list are concentrated in these business areas, they drag down the operating performance of all Chinese companies on the list.
China's traditional industries, even if the threshold of the top 500, still exist in the dilemma of making money and making money slowly.
3, China needs similar to Japan, South Korea, Germany, these countries, many do not list, the scale is not large, but in the field of segmentation can become a hidden champion of private enterprises.
And take this as the core competitiveness link for the development of the whole industrial chain, forming a global voice, pricing power of the main body of the enterprise. Rather than using the identity of a developing country to allow the existence of excessive profits in the banking industry.
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Next, the Chinese state will pay more attention to the investment in scientific and technological breakthroughs, industrial innovation and industrial upgrading.
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The degree of openness of China's financial markets and the trend of creating competitive companies to attract global capital are worthy of attention.
