FOUR Shenzhen enterprises were recently listed in China’s Top 500 Companies in 2020, bringing the total number of local firms in the list to 28. The four firms, Shenzhen Investment Holdings Co. Ltd., Shenzhen Kinghood Group, Shenzhen Luxshare Precision Industry Co. Ltd. and Heungkong Group, each won 10-million-yuan (US$1.4 million) awards from the city, the Shenzhen Municipal Industry and Information Technology Bureau announced. Among the 500 Chinese enterprises in 2019, Ping An Insurance Group ranks sixth and Huawei takes 15th place. To encourage local companies to expand their presence, the bureau released a package of measures April 30. For the software, information and communications technology (ICT), Internet and its related enterprises whose operation revenue reaches 100 million yuan in the year 2020 and growth rate reaches 20 percent over the previous year, the city will offer rewards up to 10 million yuan. For those industrial firms whose production volume reaches above 500 million yuan and grows 6 percent over the previous year, the city will give rewards up to 20 million yuan. For any enterprises that are listed in the world’s Top 500 for the first time, the city will offer a 30-million-yuan reward. (Han Ximin) |