Top Biz News

Ranking shows top 500 manufacturers

By Wang Yu (China Daily)
Updated: 2006-08-21 08:43

"It is not recommended that enterprises simply seek expansion in size and scale, without considering responsibility for the environment and society. Blind development just for the sake of it may backfire," Ou warned.

Large enterprises should play a positive role in saving natural resources by restricting the development of high energy-consumption industries, Ou said.

The vice-minister said working out how to adjust industrial layout and perfect the economic structure is the top priority for China's further economic growth and for the development of leading enterprises.

As for the manufacturing industry, more effort should be spent enhancing research and development (R&D) capability and boosting brands, according to Ou.

"Instead of just serving as equipment manufacturers, Chinese enterprises should pay more attention to innovation, patents and technology development. Chinese companies should enhance the capability of market-oriented R&D, and develop their own brands," Ou stressed.

Zhao Weichun, vice-president of Beiqi Foton Motor Co Ltd, agreed that innovation was essential.

"Without self-developed technologies and products, we will have no way to be national leaders, let alone world powers. The experience of China's auto industry has demonstrated clearly that we can never succeed in trading core technology for market share," Zhao said.