Hisense Retains Top Spot in Government Survey
The Most Competitive Large-sized Chinese Company for the Second Year
BEIJING, Nov. 9 /Xinhua-PRNewswire/ -- Hisense announced today that it has once again topped a survey analyzing the most competitive large-sized companies in China. The China National Statistics Bureau Survey Center and the China Industrial Information Issuing Center jointly released their "Annual Report on the Competition of China Large-sized Enterprises" during a conference at the Great Hall of the People in Beijing on October 27. Due to the Company's continued excellence in innovation, Hisense topped the list with a comprehensive index of 84.25. This is the second year that the two organizations have released such a report on the competitive power of some 500 large-sized Chinese enterprises. The Survey Center for Services Statistics of NBS (formerly known as the Survey Organization) has compiled statistics based on the competitive power and influence levels of each enterprise by utilizing relevant economic and management theories, as well as internationally recognized statistical methods. The evaluation covered all 2,248 enterprises listed in the Annual Statistic Report of Enterprise Groups released by NBS from 2004 to 2006. The constructed groups are composed of national level enterprises, experimental enterprises approved by the State Council, enterprises approved by Ministries and Commissions directly under the State Council, enterprises approved by the provincial people's government, and other enterprises with both revenue and capital over RMB500 million. Zheng Xinli, the Deputy Director of the Policy Research Office of the CCCPC observed that the level of investment a company dedicates to technological innovation largely determines competitive power. This list defines a company's "Healthy and Rapid Growth" from the brand new perspective of competitive power. The Report indicates that the average R&D cost ratio of the Chinese enterprises in 2006 was 1.1% while the R&D staff ratio was 2.89%. However, Hisense has invested 5% of its revenue into R&D, nearly five times that of the average level. Hisense has also recruited more than 2,500 R&D staff to help realize its continued development throughout its seven R&D centers in China, America, the Netherlands and South Africa. On average, the competitive mechanism index used to evaluate the competitive power of the enterprises shows that the institutional mechanism, the decision mechanism, the activation mechanism and the management mechanism have all been greatly improved in 2006 while the innovation mechanism has been following a regressive tendency. Big investments in R&D have given Hisense the much-needed credit and have pushed the Company to the top of the list once again. "The key factor driving Hisense Company is the development strategy of 'Technological Enterprise;' avoiding rushed decisions about operations and taking both short-term and long-term interests into consideration," said Zhou Houjian, Chairman of the Board of Directors of Hisense. "Hisense has drawn many lessons from companies that have failed to pay due attention to both long and short-team interests, and has excelled at finding the right balance." Jiang Zhenghua, the Vice-chairman of the Standing Committee of the National People's Congress and the Chairman of the Central Committee of Chinese Peasants' and Workers' Democratic Party; Wang Wenyuan, the Vice- chairman of the National Committee of the Ninth Chinese People's Political Consultative Conference; and Xie Fuzhan, Secretary and Director of the National Bureau of Statistics of China all attended the conference.
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