Industry dynamics of August 2022

Updated: Aug 31,2022 3:12 PM

 1.145 Chinese companies ranked in the latest Fortune Global 500


On August 3rd, Fortune released the latest edition of Fortune Global 500, which includes 145 Chinese companies, ranking first among all countries. Among them, there are 12 companies based in Shanghai, an increase of 3 over last year. Since 2019, the number of Fortune 500 enterprises in China has ranked first for four consecutive years. In addition to number, the scale of Chinese enterprises is also expanding. In 2022, the average revenue of Fortune Global 500 was $75.55 billion, with total assets of $320 billion and net assets of $41.96 billion. The average revenue of Chinese enterprises in the list reached US$80.98 billion, with total assets of US$358 billion and net assets of US$43.18 billion, both exceeding the average level of Fortune Global 500 companies.


Meanwhile, the revenue of Chinese companies in Fortune Global 500 accounted for 31% of the total revenue of all Fortune Global 500 companies this year, surpassing that of US companies for the first time. As Fortune's rankings are based on revenue, because of high revenue, Chinese enterprises are more concentrated at the top. Among Top 10, the number of Chinese companies grew from 3 last year to 4. Among Top 100, there were 35 from 31 last year.


2.The first batch of 100 vehicles in Shanghai were launched centrally in the Demonstration and Application of National Fuel Cell Vehicles


On August 4th, the launch ceremony of the first batch of fuel cell vehicles in Shanghai was successfully held at Shanghai Automobile Exhibition Center. Shanghai’s city agglomeration is the first batch of city agglomerations of demonstration and application of fuel cell vehicles in China, with a complete layout of eight core components, strong competitiveness and top-class self-developed fuel cell system in China. Shanghai will introduce 5,000 fuel cell vehicles and build 73 hydrogen refueling stations during the four-year demonstration period. The demonstration and application of fuel cell vehicles will help Shanghai seize the new track of green, low-carbon and intelligent terminals, and create new kinetic energy for upgrading the automobile industry. The concentrated launch of 100 fuel cell vehicles in Shanghai is an important milestone in accelerating the hydrogen energy industry and a major landmark event leading the high-quality development of the new energy automobile industry.


3.Shanghai's trade volume reached a record high in July, and the export of new energy industry continued to grow


The latest statistics from Shanghai Customs shows that this July, Shanghai's foreign trade continued to grow at a high speed, and the monthly trade volume hit a record high, exceeding RMB400 billion for the first time, reaching RMB404.22 billion. Compared with the same period of last year, exports and imports increased by 32.9% and 16.4% respectively, and the growth rates were higher than China at large.


In terms of export, the export of computer and communication industries continued to play a pillar role. The export of automatic data processing equipment and parts reached RMB23.13 billion, an increase of 52.8%, accounting for 13.2% of Shanghai's total export, driving Shanghai's export growth by 6.1%. Meanwhile, the export of labor-intensive products also increased significantly, with an export value of RMB22.34 billion, an increase of 36.4%. The export of new energy industry continued to grow. The export values of electric manned vehicles, lithium batteries and solar cells were RMB5.52 billion, RMB2.75 billion and RMB1.09 billion respectively, up by 19.5%, 560.9% and 197.4%. In addition, the export of basic organic chemicals and general machinery and equipment such as pumps and valves reached RMB6.27 billion and RMB3.14 billion respectively, up by 95.2% and 58.6%.


In terms of import, the import of high-end consumer goods led the way. The import of consumer goods was RMB49.95 billion, up 12.3%, which is also the first time since this March that growth has returned to positive.


Furthermore, the production of key industries in Shanghai is optimistic, which also drives the import of related raw materials and parts. Among them, the import of integrated circuits, semiconductor manufacturing equipment and automatic data processing equipment accessories required for the production of computer and communication industries increased by 23.2%, 42.2% and 73.7% respectively. The import of ferronickel and lithium carbonate, which are urgently needed for the development of new energy and other industries, increased by 216.3% and 371%.


It is worth mentioning that the rising import prices of energy-related products are also pushing up the growth rate. This July, the import value of energy-related commodities such as coal, refined oil and primary plastics in Shanghai increased by 145.7%, 11.4% and 21.9% respectively, with a total import of RMB9.98 billion, and their import prices increased by 67.7%, 91% and 18.7%, which became the main reason for boosting the import value.


4.Strive to build a new highland for the development of artificial intelligence industry in Shanghai! - Dishui Lake AI Innovation Port was officially launched


At the launch ceremony of Dishui Lake AI Innovation Port, more than 40 key projects of artificial intelligence industry were signed and settled, with the total investment exceeding RMB30 billion. It is estimated that about 5,000 related professionals will be gathered in the next three to five years, which not only covers many popular fields such as smart chips, autonomous driving, robots, computing algorithms and digital twinning, but also involves a number of leading enterprises in various segments, including Unity China and GritWorld, leaders of graphics engine, SenseAuto and Pegasus in automatic driving, Tesla, Yenprotek and Huaxiang Yirui in automotive electronics, and MetaX, Willsemi, CHIPLEGO, Corigine and HJ Micro in AI chips. The signing and settlement of these projects at Dishui Lake AI Innovation Port not only drives the commercialization of more advanced technological achievements here, but also lays a solid foundation for accelerating the transformation of the development advantages of artificial intelligence industry into leadership at Lingang New Area.