ACCA terms Chinese businesses 'emerging global corporations'

The Association of Chartered Certified Accountants (ACCA) has identified the 100 fastest-growing Chinese businesses emerging as global corporations - based on analyses of historical performance and their potential for future growth. Together with the Shenzhen Finance Institute, ACCA has conducted in-depth research of nearly 3,000 private enterprises listed in China and overseas.

According to the press statement issued here on Wednesday the research stems from 11 specially designed diverse indicators, with five of these measuring the companies' historical performance and six predicting their future growth. These factors include the company's size, growth, profitability, innovativeness, level of internationalisation, and media coverage.

Sajjeed Aslam, head of ACCA Pakistan says: "ACCA has been monitoring China's rising corporates and businesses, with an original report in 2014, followed by further analysis in 2016. What's clear across all reports is the aspiration to go global, with many Chinese firms already doing so. This most recent report indicates that many of these businesses will become China's next generation of global corporations over the next few years if they continue on their current trajectories. Businesses in Pakistan need to learn from these examples of accelerated business growth and should explore opportunities to build partnerships with them to jumpstart their own global expansion."

Key findings include the use of internet by high tech enterprises. More high-tech enterprises have evolved into the leaders of China's future economic growth. Among the Top 100 companies, 42 companies are engaged in the computer and internet-related sectors. Since the 2016 ranking, the number of internet enterprises has increased by 50 percent.

Copyright Business Recorder, 2019