Huawei is the first ranked Research and Development investor among top 500 Chinese firms

On 25th September, China published the top 500 research and development Chinese companies that invest the most in research and development. The tech giant Huawei tops the list with annual revenue of 891.368 billion Yuan. The online Retailer JD.com (approx revenue of 769 billion Yuan) and Hengli Group. (around 696 billion Yuan) also grabbed the top places. These groups acquired the second and third positions respectively.

Besides, Zhengwei International Group, Alibaba, Tencent Holdings, Country Garden Holdings, Vanke Enterprise, Legend Holdings, and Zhongnan Holding Group are also on the top ten list.

Moving ahead, China also published the list under the research and development category. in this section, Huawei ranked first with an R&D investment of 141.893 billion yuan (around 21 billion USD) last year.

Furthermore, Alibaba Group obtained the second position with an R&D investment of  57.236 billion Yuan and Tencent gained the third rank with 38.972 billion yuan investment. Meanwhile, China Aerospace Science & Industry Corporation and China National Petroleum Corporation have acquired the fourth position respectively.

According to the report, the entry threshold for the top 500 now becomes 23.501 billion Yuan. It has increased by 3.297 billion Yuan in comparison with the last year. In addition, all firms have maintained double-digit growth, with R&D expenses totaling 1,306.647 billion yuan. However, the increase has a steady rate of 15.57%.

Besides, JD.com declare as the foremost enterprise in the service sector. The company holds the largest number of domestic employees. As per the report, it has a total of 369,100 employees in China by the end of 2020.

More About Huawei:

From 23rd September the company has been conducting Huawei Full Connect 2021 summit. This conference is incubating new development ideas to promote the development of the digital economy. At the event, the company has launched a bunch of new products and solutions to deepening digitalization in the industry.

(Source- Ithome)