Research Report: Leveraging the Leading Role of Digital Economy Enterprises in Technological Innovation

2023-11-02

Recently, the China Enterprise Evaluation Association and the China Institute of Information and Communications Research released a series of research results on digital economy enterprises in Beijing, including the "Evaluation Standards for Digital Economy Enterprises", the "2022 China Digital Economy Enterprise Development Report" (hereinafter referred to as the "Report"), and the "TOP500 Development Index for Digital Economy Enterprises". The report shows that China's digital economy enterprises have achieved phased results in promoting digital industrialization and industrial digitization, making important contributions to helping the economy stabilize and improve, boosting consumer demand, driving the recovery of investment and financing markets, and expanding foreign trade. The concept of "digital economy" has always appeared at the macro and meso level of research, and the term "digital economy enterprise" has not been officially defined. The China Enterprise Evaluation Association and the China Institute of Information and Communication Technology have defined the concept of "digital economy enterprises" for the first time by formulating the group standard "Digital Economy Enterprise Evaluation Standard" (T/CEEAS002-2023). At the same time, an evaluation method for "digital economy enterprises" was established, with the main indicators of business revenue and market value/valuation brought about by digitalization. Correction coefficients were constructed based on indicators such as overall strength, performance strength, digitalization level, innovation level, enterprise efficiency, and social public opinion of the enterprise. Sorted by statistical data, the 2022 TOP500 Digital Economy Enterprises and the "Report" were generated. The report outlines the image of leading enterprises in the digital economy, driving more enterprises to become stronger, better, and larger. The report shows that China's digital economy enterprises have achieved phased results in promoting digital industrialization and industrial digitization, making important contributions to helping the economy stabilize and improve, boosting consumer demand, driving the recovery of investment and financing markets, and expanding foreign trade. The scale of the enterprise is characterized by high revenue and high market value. The shortlisted companies have high revenue and market value, with an average revenue of 121.1 billion yuan among the top 500 companies, including 7 trillion level enterprises and 128 trillion level enterprises; The average market value of TOP500 enterprises is 178.1 billion yuan, including 17 trillion level enterprises and 162 trillion level enterprises. The characteristics of "national greatness and new people" are significant. Among the top 500 digital economy enterprises, state-owned enterprises and private enterprises account for 46.6% and 52.8% respectively. State owned enterprises are mainly distributed in traditional fields such as telecommunications and communication equipment manufacturing, with larger revenue, market value, and profits, accounting for approximately 75.2% of the total revenue and 59.1% of the total market value of the top 500 digital economy enterprises. The total profit growth rate is 14 percentage points higher than that of private enterprises. Private enterprises are mainly distributed in cutting-edge fields such as mobile internet, artificial intelligence, and platform economy. They invest more in innovation, with an average R&D investment intensity of 6.5%, which is 3.7 times that of state-owned enterprises. They occupy 9 of the top 10 R&D investment intensity rankings. The highlight of the "dual excellence in quantity and quality" of listed enterprises is outstanding. Among the top 500 digital economy enterprises, there are a total of 427 listed companies, accounting for 85.4%, covering multiple sub industries such as semiconductor integrated circuits, the Internet, software, consumer electronics, telecommunications, big data, artificial intelligence, automotive, finance, etc. Average cost profit margin and average of listed companies

Edit:Ling Xiaotong    Responsible editor:Li Yi

Source:ECONOMIC INFORMATION DAILY

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