This report identifies the 100 fast-growing Chinese businesses that are emerging as global giants.
Their growth and overall competitiveness indicate that they are likely to continue to expand.
Over the next few years, if they continue on their current trajectories, many of these businesses will become China’s next generation of global corporations.
Key findings include:
- Just over half of the 2016 next global giants are new entrants, indicating the dynamism of competition and business emergence in China.
- Growth is rapid, with 60 of the 100 increasing their turnover by at least 20% per year over five years and 21 of the 100 by over 30% annually.
- Different sectors are represented in the top 100, and the presence of services and intangible products in the top of the ranking points to an increasingly diverse economy and a move away from manufacturing and production.
- Among the top 100, growth rates vary between 12% and 64%: annual levels of growth were measured over five years, demonstrating sustained performance and hyper-growth. This is especially impressive given further cooling of the Chinese economy in recent years to a national GDP growth rate of around 6%. In other words, the slowest growing of these companies was expanding at more than twice the national GDP growth rate and the fastest growing at 10 times national growth rates.
- A common feature of almost all the top 100 businesses was an effective business model. Overall, the businesses’ managers demonstrated in-depth knowledge of the dynamics of their industries, as well as the needs of their customers.