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Top 10 news items for Chinese firms in 2012
Source:Global Times Published: 2013-1-20 23:43:01
1. 145 entrepreneurs selected as Party delegates
145 entrepreneurs were selected as delegates to the 18th National Congress of the Communist Party of China (CPC) held in November. Entrepreneurs accounted for 52 percent of the newcomers to the country's most significant plenary meeting, where China's new central leadership line-up was unveiled.
2. China outnumbers Japan on Global 500 companies list
China had 79 companies listed on Fortune Magazine's annual ranking of the Global 500, surpassing 68 from Japan and second only to 132 from the US. China overtook Japan to become the world's second largest economy in 2010.
3. Top 500 Chinese companies see revenue threshold rise
The annual revenue threshold of China's top 500 companies was raised to 17.51 billion yuan ($2.82 billion) in 2012, an increase of 23.5 percent over a year earlier, according to a list established by the China Enterprise Confederation and the China Enterprise Directors Association.
4. Companies active in ecological efforts
The 18th National Congress of the CPC added the construction of an ecological civilization into the CPC constitution for the first time, an ideology that tries to balance development with the environment. Since then, organizations like Global Compact Network China have united many active companies to work together toward realizing the concept.
5. Companies partner in space project
The Shenzhou-9 manned spacecraft successfully conducted an automatic docking with the orbiting Tiangong-1 space station on June 18. A few Chinese companies, like China Aerospace Science and Technology Corporation, contributed their resources to the project.
6. China's biggest overseas acquisition plan gets approval
The Canadian government gave the green light in December for the State-owned China National Offshore Oil Corporation to acquire Canadian oil and gas producer Nexen Inc. The deal, valued at $15.1 billion, is the biggest-ever overseas takeover by a Chinese company.
7. Telecom giants encounter trade barriers
The US House of Representatives' Intelligence Committee concluded in an October report that two leading Chinese telecommunications companies, ZTE and Huawei, posed a security threat to the US. The two firms later slammed the US probe as "unfair" as experts worried that such a trade barrier could deter cooperation between the world's two biggest economies.
8. State Council simplifies administrative approval processes
The State Council decided in October to cancel or adjust 314 administrative approval items as a way to simplify administrative reviews and clear obstacles for economic development. The move also forms part of efforts to curb corruption.
145 entrepreneurs were selected as delegates to the 18th National Congress of the Communist Party of China (CPC) held in November. Entrepreneurs accounted for 52 percent of the newcomers to the country's most significant plenary meeting, where China's new central leadership line-up was unveiled.
2. China outnumbers Japan on Global 500 companies list
China had 79 companies listed on Fortune Magazine's annual ranking of the Global 500, surpassing 68 from Japan and second only to 132 from the US. China overtook Japan to become the world's second largest economy in 2010.
3. Top 500 Chinese companies see revenue threshold rise
The annual revenue threshold of China's top 500 companies was raised to 17.51 billion yuan ($2.82 billion) in 2012, an increase of 23.5 percent over a year earlier, according to a list established by the China Enterprise Confederation and the China Enterprise Directors Association.
4. Companies active in ecological efforts
The 18th National Congress of the CPC added the construction of an ecological civilization into the CPC constitution for the first time, an ideology that tries to balance development with the environment. Since then, organizations like Global Compact Network China have united many active companies to work together toward realizing the concept.
Photo: CFP
The Shenzhou-9 manned spacecraft successfully conducted an automatic docking with the orbiting Tiangong-1 space station on June 18. A few Chinese companies, like China Aerospace Science and Technology Corporation, contributed their resources to the project.
6. China's biggest overseas acquisition plan gets approval
The Canadian government gave the green light in December for the State-owned China National Offshore Oil Corporation to acquire Canadian oil and gas producer Nexen Inc. The deal, valued at $15.1 billion, is the biggest-ever overseas takeover by a Chinese company.
Photo: CFP
The US House of Representatives' Intelligence Committee concluded in an October report that two leading Chinese telecommunications companies, ZTE and Huawei, posed a security threat to the US. The two firms later slammed the US probe as "unfair" as experts worried that such a trade barrier could deter cooperation between the world's two biggest economies.
8. State Council simplifies administrative approval processes
The State Council decided in October to cancel or adjust 314 administrative approval items as a way to simplify administrative reviews and clear obstacles for economic development. The move also forms part of efforts to curb corruption.
Photo: CFP
9. Beijing-Guangzhou high-speed railway opens
The world's longest high-speed railway, from Beijing to the southern Chinese city of Guangzhou, opened at the end of 2012, cutting travel time from 20 hours to eight. It is believed that the new railway will boost the regional economy greatly.
10. Wenzhou steps up for financial reform
Wenzhou, a wealthy city in East China's Zhejiang Province, pushed financial reforms ahead to formalize private lending to reduce financial risks, as the provincial government unveiled a detailed plan for a trial that will allow individuals to make direct overseas investments in yuan and standardize private loans.
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