Most Globally Competitive Chinese Companies Award released, Huawei Technologies, Haier Group and Lenovo are among the winners

The first business contest which reflects competitiveness of Chinese companies in the era of globalization was released recently, 20 enterprises such as Huawei, Haier, Lenovo are among the winners. Though domestic market still dominate, the rapid growth of overseas income shows that the transformation from local firms to international companies is gaining speed.

This contest was jointly organized by "Global Entrepreneur" Magazine and Roland Berger Strategy Consultants. It mainly analyzes the overseas performance, globally sustainable competitiveness and cross-cultural management of Chinese companies.

Scale plays key role in global competitiveness-- half of the 20 awarded firms have an annual sales income above 100 billion RMB.

In addition, the 20 representatives of the "Most Global Competitive Chinese Company" have main income coming from domestic market, overseas business income is still at the early stage. However, overall performance has maintained a fast-pace growth since 2003. Among the top 50 enterprises, over 30% of them achieve an on average 50% annual growth rate of overseas income.