Domestic firms’ competitiveness drops

%3CP%3E%3CFONT%20face%3DVerdana%3ECompetitiveness%20of%20domestic%20companies%20dropped%20this%20year%20because%20of%20the%20global%20economic%20slowdown%20and%20tightening%20policies%20at%20home%2C%20according%20to%20a%20report%20released%20by%20the%20Shanghai%20University%20of%20Finance%20and%20Economics%20yesterday.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EThe%20top%20500%20domestic%20firms%27%20overall%20competitiveness%20index%20stood%20at%20108.78%20points%20this%20year%2C%20compared%20with%20111.76%20points%20last%20year%2C%20according%20to%20the%20report.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3E%22The%20global%20economic%20recession%20and%20Europe%27s%20debt%20crisis%20have%20affected%20China%27s%20economic%20development%2C%22%20said%20Jiang%20Ruochen%2C%20director%20of%20the%20Top%20500%20Enterprises%20Research%20Center%20at%20the%20university.%20%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EThe%20slump%20in%20the%20steel%20and%20construction%20industries%20was%20a%20drag%20on%20the%20overall%20performance%2C%20she%20said.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EThe%20country%27s%20housing%20price%20control%20policy%20has%20adversely%20impacted%20the%20construction%20industry.%20Meanwhile%2C%20the%20rise%20in%20the%20global%20price%20of%20iron%20ores%20and%20unstable%20prices%20for%20steel%20products%20in%20the%20country%20have%20contributed%20to%20the%20lackluster%20development%20in%20the%20steel%20sector.%20%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EThere%20was%20not%20much%20change%20in%20the%20positions%20of%20the%20top%20500%20Chinese%20enterprises%20this%20year%20though%20the%20private%20sector%20showed%20further%20progress.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EState-owned%20enterprises%20still%20retained%20the%20majority%20of%20places%20with%20316%20making%20the%20list.%20In%20comparison%2C%20a%20total%20of%20184%20private%20companies%20entered%20this%20year%27s%20list%2C%2013%20more%20than%20last%20year.%20Jiang%20advised%20the%20government%20loosen%20restrictions%20on%20private%20firms%20to%20spur%20the%20economy.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EAmong%20the%20country%27s%2080-plus%20industries%2C%2072%20are%20open%20to%20state-owned%20capital%2C%2062%20open%20to%20foreign%20investment%20while%20only%2041%20are%20open%20to%20private%20capital%2C%20Jiang%20said.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EMost%20of%20the%20private%20firms%20among%20the%20top%20500%20are%20in%20Zhejiang%2C%20Jiangsu%20and%20Shandong%20provinces.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3E%28People%u2019s%20Daily%29%3CBR%3E%3C/FONT%3E%3C/P%3E