On April 30, the press conference of "global industrial research atlas 2022" hosted by the Global Industrial Research Institute of Tsinghua University was held in Beijing. Professor He Zhiyi will use a global perspective to release the "Global Industrial Research Series atlas 2022". This is another heavy research achievement of the Global Industry Research Institute of Tsinghua University after the atlas of China's leading industrial enterprises (2021).
"In the global industrial structure, China's industrial status ranks second, but there is a large gap with the United States. The gap between Japan and China, which is the third largest industry, is also smaller than the gap between GDP. We should be confident, face up to our shortcomings and strive to be strong. The number and quality of China's global industrial leaders do not match the relative position of China's GDP in the world, and need to be greatly improved." Recently, he Zhiyi, chief expert of the Global Industry Research Institute of Tsinghua University, said in an exclusive interview with a reporter from Shanghai Securities News.
build a more comprehensive evaluation system for leading enterprises
Shanghai Securities News: what was your original intention to launch the leading enterprise research system
He Zhiyi: the original intention of drawing the map of leading enterprises is to create a more comprehensive and accurate evaluation system of China's leading enterprises.
Take Fortune 500 enterprises as an example, this system relies too much on revenue indicators. On the one hand, under this indicator, the listed enterprises are mainly concentrated in large enterprises such as energy, finance and retail. On the other hand, this system does not take into account the impact of market value, net profit and other indicators on enterprise value.
One of the most intuitive feelings is that if we take the Fortune 500 as a reference, the number of China's top 500 enterprises has surpassed that of the United States for two consecutive years. However, it is well known that some Chinese enterprises have large sales scale but low profit margin and weak competitiveness. This evaluation system is obviously biased.
The foundation of the country is the economy, the pillar of the economy is the industry, and the support of the industry is the leading enterprise. In the context of great changes that have not been seen in a century, we have conducted a panoramic research and Analysis on the situation of China's industries and industrial leading enterprises under the global pattern from the perspective of globalization, the whole industry and big data. It can be used for the data analysis and comparison of various industries and industrial leading enterprises, as well as the correlation analysis of various groups of data and figures, providing an innovative research method for global industry analysis and Sino US industry analysis Perspectives and conclusions.
This study attempts to make a Chinese voice to the world on behalf of Chinese scholars, participate in the formulation and revision of global industrial system and classification standards, participate in the evaluation and ranking of leading enterprises, and participate in the compilation of industrial leading enterprise index.
Shanghai Securities News: what are the characteristics of the "Global Industrial Research Series 2022" system released this time
He Zhiyi: we take the average annual market value, revenue and profit as the indicators of enterprise ranking, and divide each enterprise into 158 tracks according to the global industrial classification standard. Borrowing the concept of traditional economics Cr4 (top four share concentration in the industry), 632 "global industry leaders" are selected from the top four enterprises in 158 industries around the world, commonly known as "global industry Olympic Games winning enterprises". Among the 147 industries distributed by Chinese local enterprises, the top four enterprises are selected to form a total of 559 leading enterprises in China's industry, commonly known as "award-winning enterprises in China's industrial Olympic Games".
The "Global Industry Research Series atlas 2022" released this time includes seven atlas, namely: Atlas of Chinese and American high market value enterprises (including 1047 data and information), Atlas of comparison of major industrial data between China and the United States (including 6168 data and information), Atlas of global distribution of Chinese Listed Companies (including 3005 data and information), Atlas of global industrial leading enterprises (including 2170 data and information) There are 1593 pieces of China's industrial and leading information Atlas (including 1593 pieces of China's industrial and leading information Atlas).
This research is a grand platform construction, a yearbook and chronological research, which records the track of Chinese industry in the process of the great rejuvenation of the Chinese nation and the construction of a community with a shared future for mankind. On this basis, this study can provide services for research and teaching, think tanks and consulting, and promote the sound development of China's industry.
high end industries need more Chinese leaders
Shanghai Securities News: in the process of drawing these seven maps, how do you feel about the current situation of China's leading enterprises
He Zhiyi: first of all, an intuitive feeling is that Chinese enterprises that can be included in the list of leading enterprises are very valuable wealth in China's economic and social development. Taking the national distribution of champion enterprises as an example, the first place is the United States, with champion enterprises and award-winning enterprises accounting for 49.4% and 44% of the global proportion respectively. The second place is China. The champion enterprises and award-winning enterprises account for 14% and 16% of the global proportion respectively. The third place is Japan, with champion enterprises and award-winning enterprises accounting for 11.4% and 8.4% of the global proportion respectively. The top three account for 75% of the total number of global champions, while only 22 countries can produce industrial champions. It can be said that it is more difficult to win the industrial champion than the Olympic champion.
Secondly, the number of leading enterprises in China ranks second in the world, but they are mainly concentrated in traditional industries such as real estate and household appliances, and there is still a very big gap with developed countries in the United States, Europe and Japan in many fields. For example, in some important industries, American enterprises almost dominate the world. Taking the information technology industry as an example, in 2021, the sum of market value, revenue and net profit of 40 enterprises in China's computer hardware, storage equipment and computer surrounding industries was 11.24%, 90.91% and 17.54% of Apple's corresponding data in 2020. American enterprises, American capital and enterprises controlled by American strength occupy absolute advantages in the world. With the Japanese economy stagnating for about three decades, there are still many leading enterprises in Japan, such as Toyota, Sony, Mitsubishi, Honda and so on, showing tenacious vitality. In contrast, Chinese enterprises have not yet passed the test of a long cycle.
Finally, some excellent Chinese leading enterprises have significantly improved China's influence and voice in some industries almost by virtue of their "own strength". For example, in the map of global industry leaders, Shanghai M&G Stationery Inc(603899) ranks first in the world in the office service and supplies industry, which is an excellent enterprise representative who makes the traditional industry to the extreme Ping An Insurance (Group) Company Of China Ltd(601318) ranks first in the world in the health insurance industry. Huawei ranks second in the communication equipment industry in the world, second only to Cisco. Xiaomi group ranks fourth in the world in computer hardware, storage equipment and computer peripheral industries, beating out the encirclement of giants such as apple and Samsung.
Shanghai Securities News: facing the current differences in industrial distribution between China and foreign countries, how should China's industrial policy and even the capital market respond
He Zhiyi: under the changing circumstances of a century, for the sake of national security and the balance and stability of the community with a shared future for mankind, while China is committed to globalization, it must be committed to building a complete industrial chain and building the bottom line ability to maintain industrial security. Therefore, making up for industrial weaknesses is the top priority at present.
This is also the original intention of our research on industry leaders - to see which industries China has advantages in and cultivate talents for excellent enterprises in these industries.
Chinese enterprises should attach importance to investment in scientific and technological research and development. In the past, under the rules of the game of globalization and the global division of labor system, China benefited from demographic and market dividends. Enterprises were mainly concentrated in labor-intensive industries and traditional industries, and generally did not pay enough attention to and invest in scientific research. Among many leading enterprises in China, only Huawei's R & D investment can match that of world giants (Huawei's R & D investment in 2021 was 17.46 billion euros, ranking second in the world).
Secondly, industrial policies should be more precise and sustainable. From the perspective of economy and competitive strategy, the development goal of some high-end industries should not be "too high" to meet the needs of national security. In the process of cultivating leading enterprises in high-end industries, we can consider setting up certain "barriers" to enable these enterprises to achieve sustainable and progressive development.
The capital market still has room for improvement in accelerating the development of China's high-end industries. At present, there are more than 4700 A-share listed companies, but the listed companies are mainly concentrated in traditional industries, and the proportion of high-end industrial enterprises is relatively low. In the future, with the continuous improvement of the system construction of science and innovation board and gem, this situation will be improved. However, it is worth noting that compared with the U.S. capital market, there is still much room for improvement in the normalization of the A-share exit mechanism. (Zhang Yujie)
