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33 Jiangsu Companies Shortlisted “Champion” in the Sector
updated on:2018-04-11 17:46

On 4th April, Jiangsu Economic and Information Technology Commission held a meeting in Xuzhou to promote the work on nurturing individual champion manufacturers in Jiangsu. It was revealed that 33 Jiangsu companies were shortlisted in the two batches of “individual champion” companies accredited by the Ministry of Industry and Information Technology, among which 15 were individual champion model companies, 11 were companies in “cultivation” and 7 were individual champion product companies.

The special campaign to upgrade the nurturing of individual champion manufacturers was launched in March, 2016 by the Ministry of Industry and Information Technology. Individual champion companies are those whose average market share of major products in the last three years ranks the top 5 internationally, and top 1 domestically. And individual champion product companies are those whose single product can secure the global top 3 in terms of market share and whose KPIs are amongst the world-class.

The shortlisted Jiangsu companies are fully devoted in their major businesses. All of the 33 companies have a history over 10 years, and 15 of which have lasted for over 20 years. Xuzhou Construction Machinery Group with 75 years of glorious history is now a leading company in construction machinery. Fasten Group, which has been dedicating in producing steel wire rope for 50 years, is now regarded the world’s largest manufacturer of bridge tight wire which can be made “extremely thin, long and strong”.

Those companies take R&D and innovation seriously. Their R&D expenditure takes up as much as 5% of business revenue, 4 percentage points higher than that of companies above a designated scale in Jiangsu. Altogether they possess over 2,000 patents for invention, and 15 of them have national technological innovation platform in place. The GCL green polysilicon production technology which is created by Zhongneng Silicon as its proprietary IP, realizes “green” production of polysilicon that leverages energy use and production cost to achieve the state-of-the-art quality.

Those companies adopt modern management to reduce cost and boost efficiency. Last year, the average sales profit of the 33 companies reached over 12%, 6 percentage points higher than that of companies above a designated scale in Jiangsu. 16 of them are listed companies. Zhangjiagang KDX Photoelectric Material, a listed company with highest market value in Suzhou, capitalizes on “Internet+” technology to sell products directly to terminal clients, thus reducing the in-between operational cost. ZTT Submarine Cable has set up ZTT smart internet platform to take real-time control of both industrial and environmental data via connecting isolated information sources. All of the 33 companies have been making great effort to make international presence. 13 of them have secured No.1 global market share with their products.

“In a nutshell, Jiangsu’s manufacturing sector is taking the lead across the country. Revenue of major businesses in six industries, namely, machinery, light industry, electronic, petrochemical, metallurgy and textile, has exceeded 1 trillion yuan’, commented by Qi Biao, Deputy Director General of Jiangsu Economic and Information Technology Commission. Yet, there is still room for improvement: the number of individual champion companies in Jiangsu can go up further, capacity building for innovation shall be enhanced, and we are in shortage of global leading companies with proprietary IP. Regional imbalance shall be tackled, since the shortlisted companies come from only 8 cities out of the 13 cities under provincial direct jurisdiction, the other 5 cities produce none champion companies.      

This year’s recommendation for the third batch of “individual champion” companies (products) hosted by the Ministry of Industry and Information has kicked off already. In the future, Jiangsu will renew its effort to enable 20 Jiangsu companies to be shortlisted as individual champion companies each year. So that in 3-5 years’ time, Jiangsu will house 100 individual champion companies. 

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