The China Enterprises Evaluation Association has recently released in Hangzhou the first list of China's Top 500 New Economy Enterprises with academic support from Tsinghua China Data Center. Shanghai Electric occupies the 65th spot on the list.
It is a non-profit, research-based list that ranks 500 new economy enterprises in China mainly based on their market value, and nine indicators in such six categories as business scale, growth speed, profitability, technology, employment, and social evaluation are also used for adjustment.
More than half of the enterprises on the list come from the manufacturing sector, and 74 are state-owned. As a beacon in China's equipment manufacturing industry, Shanghai Electric has stepped up innovation efforts in recent years and moved faster to replace old growth drivers with new ones through smart and digital transformation. Besides online new tools like remote equipment diagnosis system, industrial Internet, and smart supply chain platform, several platform solutions are underway to empower more enterprises. Shanghai Electric is exploring new business models in the era of industrial Internet, and gaining forward-looking insights into intelligent manufacturing, smart energy, intelligent transportation, smart city, and new infrastructure. Shanghai Electric will also follow closely 5G which features high network speed, high capacity and low latency to open up a wider space for the application and development of industrial Internet.
While accelerating its digital transformation, Shanghai Electric will serve the national strategy of the Yangtze River Delta Integration. By deepening regional synergy among the industry, supply, resources, and innovation, and developing more innovative forms of industry, business, and value, Shanghai Electric will create added value for the industry, innovate business models, and deliver extended value.