全球产业结构与中国产业实力——基于全球上市公司数据的中国产业发展专题研究报告  

Global Industrial Structure and China’s Industrial Strength:A Special Report on China’s Industrial Develop-ment Based on Global Listed Company Data

作　　者：何志毅[1] 吴柯 叶晨 陈志鹏 He Zhiyi;Wu Ke;Ye Chen;Chen Zhipeng(Institute For Global Industry,Tsinghua University;Guanghua School of Management,Peking University;Institute of Risk Analysis,Prediction and Management(Risks-X),Southern University of Science and Technology;Academy of Finance and Economics,Southern University of Science and Technologya;Beijing Xinrui Mundell Academy of Entrepreneurship)

机构地区：[1]北京大学光华管理学院 [2]南方科技大学风险分析预测与管控研究院 [3]南方科技大学南方科技金融研究院 [4]北京新瑞蒙代尔企业家研修学院 [5]北京新瑞蒙代尔企业家研修学院数据部

出　　处：《南开管理评论》2025年第4期196-208,共13页Nankai Business Review

基　　金：国家自然科学基金项目(T2350710802);深圳市科技创新委员会项目(K23405006)资助。

摘　　要：在全球经济深刻变革的大背景下,产业结构升级与国际竞争日益成为各国经济发展的核心议题。本研究基于全球主要证券市场的上市公司数据和全球产业分类标准(GICS)对各国、各产业、各企业进行多维度比较。结果显示:美国在大部分产业的国家产业实力系数上占据领先地位,中国内地稳居第二且在部分产业上具备规模优势,但在先进领域和产业领军企业数量上与美国仍存在较大差距。进一步对产业领军企业和冠军企业的数量及分布进行分析发现,美国产业头部企业集中度与盈利能力均显著高于中国内地,而中国内地在传统产业(如煤炭、房地产开发等)具备优势,在部分新兴领域(如家用电器、新能源发电等)也开始崭露头角。总体而言,加强对中国内地在全球产业体系中的地位与路径研究,对于建设自主可控、竞争力强的现代产业体系及培育世界一流产业领军企业具有重要意义。This paper explores the evolving global economic landscape through the lens of publicly listed corporations and their role in shaping industrial power,with particular emphasis on China’s position among leading economies.It argues that industries and their top-performing companies constitute the essential drivers of innovation,competitiveness,and economic resilience in a rapidly changing world.Drawing on extensive datasets from Refinitiv and Wind,the study includes 45,026 listed companies across 130 countries and regions,covering 192 stock exchanges.Each company is assigned to an industry according to the Global Industry Classification Standard(GICS),including 11 sectors,25 industry groups,74 industries,and 158 sub-industries.These categories enable cross-country comparisons of metrics such as market capitalization,revenue,and net profit—three core indicators chosen to capture both current performance and future expectations of industrial growth.Market capitalization reflects investor sentiment about profitability and longevity;revenue measures operational scale;net profit indicates a company’s capacity to generate surplus value for shareholders.By compiling each nation’s global share in these three metrics,the paper derives a“national industrial strength coefficient,”which is then compared across major economies.According to this coefficient,the United States ranks first in overall industrial strength,with China in second place,followed by Japan,the United Kingdom,and others.While China’s GDP stands at roughly 65 percent of that of the United States,its industrial strength share falls below half that level,reflecting how large-scale output does not automatically translate into proportionate gains in corporate market valuation or global profit shares.China’s listed firms command around 15 percent of global market capitalization,18 percent of global revenue,and 16 percent of global net profit.When combined(with a 50 percent weight on market capitalization,25 percent on revenue,and 25 percent on prof

关 键 词：全球产业 产业实力 产业领军企业 产业比较系数 中美对比 现代产业体系 

分 类 号：F124[经济管理—世界经济]