Shenzhen ranked second in innovation capacity among major Chinese cities, with 43 Shenzhen firms having made it onto the list of the country’s top 500 innovative companies, according to the 2020 China Listed Company Innovation Index Report published Thursday.
Among the top six Chinese cities in innovation capacity, Beijing took the first spot, followed by Shenzhen, Shanghai, Hangzhou, Guangzhou and Nanjing.
The report was jointly issued by the School of Management at Zhejiang University and Shenxin Communication Think Tank of Shenzhen Press Group. It selected 2,146 A-share companies as the evaluation objects based on an evaluation system composed of innovation power and innovation efficiency.
Most of the innovative companies are located on the southeast coast and in first-tier cities, the report showed. Among the 500 companies, 76 percent are headquartered in Guangdong, Zhejiang, Jiangsu, Shandong and Fujian provinces, and Beijing and Shanghai municipalities.
The top 50 innovative enterprises are more concentrated in the southeast coastal area, 10 of which are located in Guangdong Province, with six in Shenzhen.
Two Shenzhen companies made the top 10, with ZTE rising to first place from third place last year and Foxconn Industrial Internet taking the fourth spot.
The eight other companies that entered the top 10 include SAIC, Gree, Midea, Hikvision, CRRC, Weichai Power, Tsinghua Unigroup, and Haier Smart Home.
About one-third of the top 500 innovative companies are from sectors including computer, communications and other electronic equipment manufacturing industry, electrical machinery and equipment manufacturing industry, as well as pharmaceutical manufacturing industry.