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China International Marine Containers (Group) Ltd (CIMC), a Shenzhen-based container manufacturing company, has been named the most competitive of 1,251 listed firms in Shanghai and Shenzhen.

 

According to a Chinese Academy of Social Sciences (CASS) report, CIMC, together with Shanghai-listed Shanghai Zhenhua Port Machinery Co Ltd and Sichuan-based Dongfang Industry Boiler Group Co Ltd were the top three most competitive listed companies in 2005. The three companies are all from the heavy manufacturing industry.

 

"The report shows that China is still very strong in the manufacturing sector, and especially in the heavy manufacturing industry. Our report results are in line with the country's current economic situation," said Jin Bei, a researcher at the CASS's Institute of Industrial Economy.

 

Besides the manufacturing industry, companies dealing with real estate businesses also demonstrated strong competitiveness due to their innovation in new products and finance, according to the report.

 

Shanghai Jinjiang International Investment Co Ltd and Jiangsu Xincheng Real Estate Co Ltd were among the top 20 most competitive listed companies.

 

However, the report pointed out that most of China's domestic listed firms lack innovation compared to overseas companies.

 

"There are still few listed companies who make money out of innovation. It is in these areas that Chinese listed firms should do the most in order to improve their innovation ability," Jin said.

 

The report rated 1,251 domestic listed companies in Shanghai and Shenzhen. Size, efficiency and growth potential were the three major factors used to assess a listed company's competitiveness.

 

It is the fourth year the report has been released. Sinopec and China Unicom were the winners of last year's rankings. This year Sinopec ranked 14th but China Unicom didn't make the top 100. "It was mainly because we changed our assessment methodology, and the methodology helped to ensure that a company was not assessed as competitive just because of its big size," Jin said.

 

Shandong, Shanghai and Beijing turned out to have the most competitive listed companies in the country, according to the report. Of the top 100 most competitive listed companies, Shanghai had 17, Shandong had 16 and Beijing had 10.

 

"It should be noted that Shandong Province is now for the first time within the top three areas that have the strongest listed companies, " said Zhang Qizai, another researcher at the CASS.

 

(China Daily November 8, 2006)