Tian Xiaohong, spokesperson of the GBI 100 Competition, introduces the background, significance and arrangement of the competition at the press conference on July 19, 2019. [Photo provided to chinadaily.com.cn]

Tian Xiaohong, spokesperson of the GBI 100 Competition, pointed out that CBT 100 companies, which can be regarded as the driving forces of the Chinese economy, are the most profitable companies in China. The annual profits generated by CBT 100 companies have accounted for approximately 95 percent of the total profits of all Chinese listed companies in recent years. Meanwhile, CBT 100 cities were ranked as the 100 Chinese cities with the largest GDP by the Warton Economic Institute based on the CBT 100 Index. Statistically, the aggregate GDP of CBT 100 cities has recently accounted for approximately 75 percent of China's national GDP, which makes CBT 100 cities major bases for the economic development in China. CBT100 cities provide fertile soil for the industrialization of cutting-edge science and technology achievements around the world.

The competition is sponsored by the CBT 100 Forum, Xishan district of Wuxi, and Xinjiang Zhongtai Group, and co-organized by Chinese Universities (East China /South China) Science and Technology Achievement Transformation Centers and the Association for Collaborative Leadership (ACL).

Many key figures attended the press conference, such as Ji Xiaonan, chairman of the China Business Top 100 (CBT 100) Company Forum and former chairman of the Board of Supervisors of the State Council's State-Owned Key Large Enterprises; Hou Yunchun, former deputy director of the Development Research Centre of the State Council; Hua Sheng, renowned economist; Wang Wei, deputy Party secretary of Xishan district of Wuxi; Zhang Xiaoyu, executive vice president of the China International Council for the Promotion of Multinational Corporations; Li Xiaojun, vice president of the China Association for the Promotion of Industrial Development; and Yu Xingxi, Secretary General of the Beijing Listed Companies Association; as well as experts, scholars and senior leaders (namely chairmen, managers, secretary generals) from over 40 CBT 100 companies such as China State Construction, Shanghai Pudong Development Bank, Sinopharm, China Railway Construction Corporation, Power Construction Corporation of China, China Grand Auto, Sany Heavy Industry, China National Medicines, Tongrentang and Xinchao Energy.