By Sarah Falson

CHINA, Quingdao: The Chinese Bureau of Statistics has collaborated data that reveals the Hisense Group is the most competitive of China’s top 500 companies.

The statistics were gathered from a survey which measured the operating performance of China’s most successful companies across 47 ‘indices’ (categories), according to a press release distributed this week.

The process involved a review of the performance of 2,080 companies with a Chinese presence whose assets and turnover exceeded 500 million RMB in the past 12 months.

Variables measured included manufacturing quality, capability and automation, innovation and investment, research and development and economic metrics.

A company’s likely survival rate, development plans, management team, innovations and decision making capabilities were also taken into account.

“The only other consumer electronics giants with Australian subsidiaries placed in the top 100 were Haier, which was ranked 69th, and TCL, which was placed 82nd,” the release stated.

Computer manufacturer, IBM’s Lenovo, was ranked second, and Hua Tai, an electrical and wiring company, came in third.

One of China’s largest breweries, Quingdao Beer, was ranked 373rd and Midea, whose whitegoods are sold through Harvey Norman and Good Guys stores, was ranked 132nd.

Hisense Australia managing director, Brenda Liu, said: “We are delighted to have achieved the number one ranking.

“While this is a tremendous result for Hisense, the fact our company is China’s most competitive business is also significant for our partners – our efficiency translates to better products and more compelling offerings to consumers, and hence retailers also share in this win.

“Our focus is excellence and to offer retailers and Australian consumers a range of quality products, industry leading warranty, backed up with exceptional service and support.

“Positioning Hisense as a dominant, quality company in this competitive market is an achievable goal.”