Notwithstanding its communist ideology, China’s economy has been developing at an amazing pace. Only a few years ago, the country was known mainly for its light industry but today, Chinese corporations work in all industries and they work successfully.
Some experts claim that the Chinese economy is going to outperform the U.S. economy in a few years. It is hard to say if such claims are well-grounded but there is some evidence that these predictions might come true. It may be surprising but quite a number of Chinese companies have been making important achievements in software development over recent years. Such companies as Alibaba, China Mobile, Baidu, Tencent, Xiaomi, and Huawei have been moving the digital world forward.
The largest Chinese companies
The three companies that top the list of 500 largest companies compiled by the Chinese division of Fortune are China Petroleum & Chemical Corporation (Sinopec), PetroChina Co Ltd (PetroChina), and China State Construction Engineering Corp Ltd.
The list has been compiled by Fortune China in cooperation with China International Capital Corporation Limited. Its aim is to report on performance of the largest Chinese companies in 2023.
The aggregate income of 500 largest Chinese companies was 39.65 trillion yuan (5.87 trillion dollars), which is 18.22% more than the year before. Their net profit rose by 24.24% and reached 3.48 trillion yuan (515.42 billion dollars).
The total value of 7 Internet service providers including Alibaba, Tencent, and iQiyi exceeded 7 trillion yuan (1.04 trillion dollars), which makes up 15% of the value of 500 largest companies in China.
The aggregate profit of 10 most profitable companies amounted to 40% of the total profit of all 500 companies. Industrial Commercial Bank of China was the largest profit generator: it made 286.05 billion yuan (42, 73 billion dollars). Then go China Construction Bank Corporation with 242.26 billion yuan (35.88 billion dollars) of profit and Agricultural Bank of China Co Ltd with 192.96 billion yuan (28.58 billion dollars).
The number of super-large companies is extremely high in China. According to statistics, China has the largest number of international corporations headquartered there.
Software companies in China
Most of the world’s largest software companies are still found in the United States but even the American technological giants appreciate the revolution in software development that is currently going on in China. According to reports, the number of software companies more than doubled in China between 2009 and 2014. Today, 9 of the 20 largest technological companies are located in the country.
Not less important is the fact that Chinese universities turn out armies of software developers. According to some estimates, their number reached 100,000 people per year. The contemporary Chinese software companies are huge and they keep growing. Chances are that China will soon replace Germany and Japan as the main competitor of the American software industry.
As of the end of 2017, 35,774 companies in China were actively engaged in software development. More than 10 of them had a value that exceeded 1 billion dollars.
Below we list 6 largest and most influential software companies in China. обеспечения.
China Mobile
Similarly to many other large Chinese companies, China Mobile Ltd. is the property of the state. The company is mostly focused on providing mobile communication services: software development is not in the center of its interests. Nevertheless, almost 240,000 company employees work in software development. China Mobile based in Beijing has 800 million subscribers and this makes it the largest mobile service provider in the world. Most of the subscribers live in China but the company also provides services in Hong Kong and Pakistan. China Mobile’s market capitalization is 195.62 billion dollars.
Tencent
Tencent Holdings Ltd. located in the city of Shenzhen is a Chinese social network giant. Its message-exchange application WeChat reached more than a billion users in 2018. The website of QZone, a social network, reported having 629 million users that year, and the company’s instant message service had a colossal 820 users per month. For your understanding, this is more than two times more people than the entire population of the United States.
Tencent’s market value is 534 billion dollars. The company invests heavily in the U.S. software industry and according to some reports, it wants WeChat to be used in the United States too.
Alibaba
Alibaba is the world’s largest electronic retailer. It has double the sales for Amazon and eBay. There are reasons to claim that Alibaba Group Holding Ltd. is the most important player in the Chinese software development market.
All of Alibaba’s software products are manufactured through its subsidiary Alibaba Software. The company also offers payment and banking services through its Alipay application. Alibaba has also invested in several American startups including Snapchat, an application for exchanging video messages and Lyft, a car maintenance company.
Baidu
Baidu, Inc. Was founded in 2000 by Robin Li (Li Yanhong) who had spent most of the 1990s developing software for Wall Street Journal. Baidu is the leading search engine in China and its market share is growing. The company offers dozens of free software products and most of them are designed for PC users in Asian markets.
Xiaomi
Xiaomi, sometimes referred to as Apple of China, is a manufacturer of smartphones and other mobile devices. Its history is rather short thus far but its prospects look fantastic. At the end of 2014, Xiaomi’s market value exceeded 45 billion dollars, which made it a technological giant. In the middle of 2018, the company went public and began to be listed at the Hong Kong stock exchange. On the first day of trade, Xiaomi faced an unpleasant surprise: its stock was down 6%. It picked up afterwards, however, and now the company is worth 56.4 billion dollars.
Huawei
Contrary to a widespread opinion, Huawei is not a typical Chinese company. It has built a corporate culture that combines oriental and western characteristics. The company management claims that Huawei’ culture contains three layers: the British layer, the Chinese layer, and the American layer.
Huawei is a leading global ICT solutions provider. The company’s goal is to bring digital technologies to every person or organization in an integrated and wholesome form. Huawei’s innovative solutions, products, and ICT-related services are used in 170 countries of the world. More than a third of the entire population of the planet uses Huawei’s technologies.
Chinese software companies are turning into important players in the digital market. Their financial powers are superb, their intellectual powers are improving, and their market shares are growing.
