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The Building of World-Class Large Enterprises (No.135, 2019)
2019-10-15
By Ma Jun, Yuan Dongming, Zhou Jianqi & Xiang Anbo, Research Team on “The Building of World-class Enterprises with Global Competitiveness”, Enterprise Research Institute, DRC
Research Report, No.135, 2019 (Total 5635) 2019-8-14
Abstract: World-class large enterprises are globally competitive enterprises, integrators of global resources, frontrunners of economic development, main forces of industrial transformation and upgrading, and stabilizers to ensure economic security of big powers. The number of large enterprises in China has increased rapidly in recent years, taking the world’s front rank. However, they are generally large in quantity, but weak in quality, which is in line with the general characteristics of many developing countries that used to adopt a fast growth approach. As China is moving now from a rapid growth mode to a high-quality development one, it needs to build a number of world-class large enterprises, give full play to their role as global resource allocators, innovation chain integrators, and industrial upgrading drivers, and promote the improvement of the overall quality of enterprises. Some policy options are proposed as follows. We need to adhere to the requirements of high-quality development, and establish a comprehensive and objective enterprise evaluation system; we need to further improve the national innovation system and enhance the innovation capacity of enterprises; we need to establish a fair competitive market environment, promote resource integration and allow market forces to determine enterprises’ success or failure; we need to further open up to the outside world and improve enterprises’ ability to integrate internal and external resources; we need to conduct policy-making on a more scientific basis and encourage high-quality development of enterprises; and we need to accelerate the reform of state-owned enterprises and enhance their vitality.
Key words: world-class, large enterprise, global competitiveness
