Statistics from China's Ministry of Information Industry (MII) show total 2005 revenues for the top 100 electronics and information technology (IT) firms in China reached 964.3 billion yuan (approx. U.S. $120.3 billion). The data represents an 18.2-percent year-on-year increase. MII Deputy Chief Lou Qinjian credited the increase to Chinese firms' improved competitiveness.
Better competitiveness results in part from bigger research and development (R&D) investment. The 100 companies dedicated 93,600 employees, or approximately 9.6 percent of their workforce, to R&D. R&D spending by the companies in 2005 was 3.56 billion yuan (approx. $444 million).
Company rankings for 2005 from the Ministry included:
1. Legend Holdings Ltd., parent of PC OEM Lenovo Group (which acquired IBM's PC busness), with 2005 revenue of 108.2 billion yuan (approx. $13.5 billion)
2. home appliance and electronics maker Haier Group
3. BOE Technology, the biggest Chinese maker of LCD (liquid crystal display) panels
4. TCL Group, maker of TVs and mobile phones
5. telecom equipment maker Huawei Technologies
to Daily News