China's leading private firms show stronger innovation capability

Added On September 13, 2020

A latest report on China's top 500 private enterprises has showed that all firms saw steady growth in their ability to innovate during 2019.

China Report has more.
According to the 2020 survey and analysis released by the All-China Federation of Industry and Commerce, the key technologies of 402 companies of the leading 500 were mainly developed independently, accounting for 80.4 percent of the total.
The number of valid patents obtained by the top 500 increased by 8.46 percent in 2019, while the figure for international patents also grew significantly.
The enhanced innovation capability was fueled by hefty research and development investment, with the biggest one reaching about 19.2 billion U.S. dollars.
The report also highlights figures for research and development intensity. Among the top 500 private companies, 59 had an intensity of more than 3 percent in 2019, while five companies surpassed 10 percent.
Meanwhile, they made efforts to forestall and defuse major risks, as well as play an active role in implementing major national strategies and the coordinated regional development strategy.
Among the leading 500 firms, 403 engaged in fighting pollution, 355 in targeted poverty relief, 291 in rural vitalization and 191 in the Belt and Road construction.