Profits of Chinese TOP 500 overtake US TOP 500 for the first time!

Discussion in 'China' started by badguy2000, Sep 6, 2009.

  1. badguy2000

    badguy2000 Respected Member Senior Member

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    Per this online news of the Chinese portal website Sina "Profits of Chinese TOP 500 overtake US TOP 500 for the first time", the net profits of Chinese TOP 500 companies totalled 170.6 billion US $ in the first half of 2009, while their US counterparts came to 98.9 billion US $ (Forbes figure), due to the strong ecnomic growth of China and its having a minor negative impact of the global economic downturn!

    What do you make of such economic figures and the stories behind?
    http://finance.sina.com.cn/g/20090905/20486712414.shtml
    [mod] Please Post Link to a News Item, Not a Dead Discussion at another Forum [/mod]
     
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  3. sky

    sky Regular Member

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    SO WHAT?

    MOST LARGE COMPANIES IN CHINA ARE STATE OWNED?

    AMERICA IS IN JUST STARTING TO COME OUT OF THE WORST ECCONOMIC CRISIS IT HAS FACED,SINCE THE GREAT DEPRESSION.

    Enjoy tour time in the sun as it wont last long,america is more free,dynamic and has world class companies doing [email protected] ,so you lot can make cheap consumer goods for them.
    money always finds the the best home,china has cheap labour and good infastruture,but india as well as other developing countries are fighting hard for fdi.as long as you have little [email protected] abilities you will also join the rest of the developing world fighting for fdi from amereica @the eu.
    if you wont to overtake america it will only happen when you stop stealing there ideas and start spending big on [email protected] other wise they will have you over a barrel..
     
  4. Koji

    Koji New Member

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    Uhmm....most large companies in the world are state owned. Bank of America is practically a government owned institute now, and don't forget about every petroleum company.
     
  5. badguy2000

    badguy2000 Respected Member Senior Member

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    you seem not to understand the situdation fully...

    today, the guy in need of foreign investment could be anyone but china.

    today, china is one of biggest investors in the world .


    although china receive about 70 billion USD FDI every year .the 80 billion FDI is just a piece of cake to CHina's big walllet.

    Even if the 80 billion FDI disappeared at once, it would not hurt CHinese eocnomy at all.
     
  6. sky

    sky Regular Member

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    Not in the uk or eu there not,there govenments may have a stake in them but they dont own them out right .when the world recovers bank of america will sold off.so will other banks where there govenments have had to help them out.we learned 20 years ago by selling of state assests you make them stronger as they have to compete with other companies on a fair basis.a lot of waste and bad mis management can happen when the state owns companies.there has to be accountability and that can only happen when they are listed on the stock market
     
  7. sky

    sky Regular Member

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    May be not, but how do you think china has grown so fast .its by usa and eu investment.remember china has a low [email protected] base.if not out side investment how would china have grown so fast .
     
  8. badguy2000

    badguy2000 Respected Member Senior Member

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    you overrate the importance of FDI from west world tooooo much.

    1.
    i am a chinese bank manager in charge of international settlement.

    Acccording my experience ,70% of FDI in china are fake FDI. those "fake FDI" in fact are all domestic fund . they were leaked out of mainland China by illegal private banks,then returned to China disguised as FDI ,just for tax vacation and other privileges.

    in fact, "fake FDI" is almost a open secret in China.
    local officals welcome those FDI,because the mroe FDI, the more easily they can get promotion.
    Chinese native enterpreneurs like disguising their fund as "FDI",just for tax vacation and other privileges.
    workers doesn't care whether their bosses are FDI or native fund,because there is no difference between both to them.

    For example,
    In the rural area of Pearal River detal ,you can find lots of Hongkongese-invested enterprises. but if you look into those enterprises, you will find all those enterprises in face are all invested and run by local villagers.


    2. the FDI from west world like EU,Japan and USA has never been very important to CHina.
    the propotion of west FDI has nevery exceeds 30% since china opened its door in 1978.

    Instead, "FDI" from Hongkongese and Macau indeed was once very important to Pearal River Delta very much in 1980s-1990s. but the day has passed.
    .
     
  9. ahmedsid

    ahmedsid Top Gun Senior Member

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    Please Post an English Translation of the Source so the Readers can analyze it and answer accordingly. Right now they are groping in the dark. Kindly Co-operate. God Speed.
     
  10. sky

    sky Regular Member

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    I can not believe what your saying,you are in a postion to know the truth ,where i have no expertise of finance just what i read.even then your revelation is a surprise to me,i hope your right for your sake.
     
  11. badguy2000

    badguy2000 Respected Member Senior Member

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    no enlish news appears yet. because it is the real-time express...:)

    I can translate the main idea.


     
  12. macintosh

    macintosh Regular Member

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    You can use Google translator for translating the whole web page. Just copy the url in Google translator.
     
  13. sky

    sky Regular Member

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    bad guy your press dont treat the usa with a lot of respect do they,it reads like a comic.no offence
     
  14. badguy2000

    badguy2000 Respected Member Senior Member

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    well, Hongkongese investment did play a very key role in the early development of coatal china.
    The proportion of Hongkongese FDI has always been always 50+%,since CHina opened its door in 1979.
    Of course, since 2000, lot of FDI from Hongkong in fact are "fake FDI" ,which were leaked out of mainland china by illegal private banks.


    However, the proportion of west FDI has never exceed 30% in the past 30 years.so,
    the importance of west FDI is just a myth.
     
  15. mattster

    mattster Respected Member Senior Member

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    I seriously doubt this guys......first of all you need to take into account that Chinese firms and their accounting practices. They may be cooking their books.

    Secondly what exactly do Chinese firms do that make them so profitable.....they are not generating new inventions or products.

    Only Huawei stands as a major exporter......all others are contract exporters who manufacture for Western companies. Their margins are not that great.

    Plus all these companies have been hammered just as badly as the US.
    Take any data from Chinese press with a grain of salt.
     
  16. badguy2000

    badguy2000 Respected Member Senior Member

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    for your reference.


    ICBC (the global biggest and most profitbal bank),CBC(the global second biggest and profitbal bank).BOC(the global 3rd biggest and profitable bank), Petrolchina and Sinopec are all on the list of top 500 chinese companies.....

    in fact,Huawei is the 50th biggest compainies in China in 2008 and much smaller than tycoons like ICBC and Pretrochina.
    2008ÖйúÆóÒµ500Ç¿Ãûµ¥£¨È«£©_²Æ¾­ÆµµÀ_лªÍø
     

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