Jointly hosted by Forbes China Group and the China Electronics Chamber of Commerce with support from Consumer Electronics Magazine and XiaoFeiBao, the China Digital 100 Launch ceremony was successfully held in the beautiful city of Shangrao, Jiangxi on 20th August. As an important segment of the 2022 China Digital Economy Industry Forum, the launch ceremony was an international affair attracting VIP guests operating in the digital economy sector, including government representatives, scholars and industry experts. There was active discussion surrounding the development of the global digital economy, including opportunities at stake and the myriad challenges ahead. Amongst the newly launched China Digital 100, companies with a trillion yuan valuation led the way, with Tencent Holdings far out in front with a total market value of 2.916 trillion yuan, followed by Alibaba and China Mobile in third.

The launch ceremony was attended by Mr. Guo Yanyan, a former Party Leadership Group Member for the Ministry of Industry and Information Technology, who also delivered a keynote address. He was keen to emphasize how the digital economy had experienced startling growth in recent years, both in terms of its broadening appeal and depth of penetration. In particular, he forecast that the digital economy would be the key driver in recasting global resources, disrupting the global economic structure and reshaping the global competitive landscape. Making it onto the 2022 China Digital 100 symbolized a company’s comprehensive strength and also alluded to their excellent performance even amidst a crowded field of candidates in the sector.

Vice Secretary of the Shangrao Municipal CPC Committee and Mayor of Shangrao, Mr. Qiu Xiangjun mentioned in his keynote address that in recent years, the city of Shangrao is eagerly grasping opportunities to aid the development of its digital economy. By continually upgrading infrastructure, encouraging the growth of new business patterns and accelerating the integration of digital technology into different industries, these measures would continue to drive the digital economy forward. In addition, nurturing the “Digital Shangrao” brand and constructing a high-quality Demonstration Zone for the Shangrao Digital Economy would help the city to become a leader in the New Economy. Over the course of the 13^th Five Year plan, Shangrao’s digital economy output value rose from 700 million yuan to 50.5 billion yuan. During the first half of this year alone, Shangrao added 6 new companies in the digital economy sector for a total of 150 companies; net income for Big Data related industries stood at 57 billion yuan for year-on-year growth of 39.3%.

Forbes China Group Chairman Mr. Zhang Zhichen attended the launch and delivered a keynote address. He expressed admiration for the companies that made it onto the 2022 China Digital 100, lauding their formidable strength and broad influence. They were a microcosm of China’s digital economic development, and yet also an active agent of the global digital economy’s footprint. “It is our fervent hope that these companies will continue to lead the way in the future, assimilating digital technology into different industries globally and stimulating the continued development of the global digital economy.”

Guests at the launching ceremony from left: Mr. Guo Feng, Deputy Mayor of Shangrao; Mr. Qiu Xiangjun, Vice Secretary of the Shangrao Municipal CPC Committee and Mayor of Shangrao; Mr. Zhang Zhichen, Forbes China Group Chairman; Mr. Guo Yanyan, former Party Leadership Group Member for the Ministry of Industry and Information Technology; Mr. Wang Ning, President of the China Electronics Chamber of Commerce; Mr. Shi Ke, Chairman of Jiangxi Association for Science and Technology; Mr. Li Qinghong, Deputy Director of Jiangxi Development and Reform Commission; Mr. Wang Fushan, Chairman of XiaoFeiBao.

The 2022 China Digital 100 comprised 100 companies in the digital economy sector that have displayed outstanding performance in various metrics, with the top ten taken by Tencent, Alibaba, China Mobile, JD.com, Inc, China Telecom, Midea Group, Foxconn Industrial Internet, China Unicom, Lenovo and Xiaomi Inc and encompassing diverse industries such as e-commerce, telecommunications, household appliances and electronic manufacturing. In conjunction with the launch, research for the 2023 Global Digital 100 was also announced.

Representatives of the various companies that made it onto the list were also invited to deliver an address sharing their companies’ unique points and discussing future development of the digital economy and digital industry. They were, in no particular order: Mr. Yuan Shuxin, Vice President of Lenovo (China region); Mr. Wu Wei, Executive Director of Skyworth Group; Mr. Lv Jianwei, President of Yonyou Research Institute; Mrs. Ding Shasha, Party Secretary of Shenzhen MTC.

Panel Discussion, from left: Mrs. Liu Ye, Panel MC; Mr. Zhang Qinglian, President of Forbes China Group; Mr. Wang Hong, Vice President of BOE; Mr. Liu Nan, Vice President of Alibaba Group; Mr. Hidenori Takata, The Deputy General Manager of Maxell’s New Business Producing Division; Mr. Zhao Guangbin, Senior Economist at PwC China.

A panel discussion was organized with the topic of “Exploring the Current State of the Global Digital Economy and Future Development Trends” and an esteemed panel engaged in lively dialogue. The dialogue participants included: Mr. Zhang Qinglian, President of Forbes China Group; Mr. Wang Hong, Vice President of BOE; Mr. Liu Nan, Vice President of Alibaba Group; Mr. Hidenori Takata, The Deputy General Manager of Maxell’s New Business Producing Division; Mr. Zhao Guangbin, Senior Economist at PwC China. In particular, there was sharp focus on several key points, such as how to bridge the digital divide and allow more global citizens to share in the profits of the digital economy; as we adapt to a new normal post-pandemic, how the digital economy has created new products and technology under the banner of “Digital Prevention”; dreaming about the endless possibilities for different industries in a digital economy future.

Representatives of Alibaba, China Mobile, JD.com, Inc, China Telecom, Xiaomi Inc, BOE, Haier Smart Home, Luxshare Precision and Vipshop receiving their awards onstage.

Representatives of Midea Group, Digital China, Skyworth Group, Dahua Technology, Konka Group, 37Games, Suning.com, Ecovacs Robotics, Yonyou Network Technology, Chaozhou Three-Circle and Shenzhen MTC receiving their awards onstage.

Upon further analysis of the 2022 China Digital 100 companies, the total revenue of all the selected companies reached 9895.3 billion yuan, with an average revenue level of 99 billion yuan. Among them, JD.com, Inc ranked first in revenue with 951.6 billion yuan.

Mr. Graham Earnshaw, Economic Consultant of 2022 China Digital 100  

In 2021, the revenue of these 100 companies alone accounted for close to 10% of China’s national GDP, once again reflecting the importance of the digital economy in sustaining the national economy.

It is also worth noting that even though unlisted Chinese companies were not under consideration for the Digital 100, many industry-leading companies such as Huawei and ByteDance also possess outstanding competence in the digital economy sector. At the same time, keep an eye out for the rapid emergence of unicorn companies such as SHEIN that also have the potential to become the bedrock of China’s digital economy.

In recent years, the national and municipal governments have continually pushed for “2 Transformations”, elevating digital transformation to the same strategic importance as industrial transformation. By promoting digital industrialization, industrial digitization, data value and digital governance, this will result in digital empowerment and accelerate the integration of the digital and real economies. As a result, under a new service-oriented development model, industry structure can be better optimized, industry patterns remodeled and industry quality improved, thus achieving high quality development. It is the opinion of industry experts that the launch of the 2022 China Digital 100 reflects the phased achievements of the “2 Transformations”, and furthermore reinforces the fact that digital transformation is slowly becoming a new driver of economic growth. The successful implementation of Shangrao, Jiangxi and China’s digital economy provides renewed hope and expectation for the future of the digital economy.

The 2022 China Digital 100 is jointly published by Forbes China and the China Electronics Chamber of Commerce, with special thanks to XiaoFeiBao.

For the full list, please access the link below to Forbes China’s website:

https://www.forbeschina.com/innovation/61587

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