Forbes names most promising small firms

%3CP%20align%3Dcenter%3E%3CIMG%20border%3D0%20src%3D%22/new_maoyi_en/cn/admin/news/NewsFile/-1/20141894825174.jpeg%22%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EForbes%20China%20released%20its%20rankings%20of%20China%27s%20most%20promising%20small%20and%20medium-sized%20enterprises%20%28SMEs%29%20Tuesday%2C%20with%20a%20particular%20rise%20seen%20in%20the%20number%20of%20online%20service%20providers%20on%20the%20list.%26nbsp%3B%20%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EAccording%20to%20Forbes%2C%2020%20online%20service%20providers%20-%20covering%20fields%20%26not%3Bincluding%20smartphone%20game%20deve%26not%3Blopers%20and%20online%20forum%20operators%20-%20are%20considered%20to%20have%20great%20potential%20in%202014.%20The%20magazine%20only%20named%2012%20such%20companies%20in%20its%202013%20rankings%2C%20which%20were%20released%20last%20January.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EHong%20Kong-listed%20Boyya%20Interactive%20International%20Ltd%2C%20an%20online%20card%20and%20board%20game%20developer%20focusing%20on%20mobile%20games%2C%20was%20selected%20as%20the%20most%20promising%20listed%20company.%20%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EShanghai%20Kingnet%20Technology%20Co%2C%20a%20social%20network%20game%20operator%20that%20is%20also%20engaged%20in%20mobile%20game%20%26not%3Bdeveloping%2C%20was%20named%20the%20most%20promising%20unlisted%20company.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3ECompanies%20in%20industries%20ranging%20from%20pharmaceuticals%20to%20tourism%20agencies%20were%20also%20included%20in%20Forbes%27%20%26not%3Brankings.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3ELiu%20Dalong%2C%20director%20of%20the%20mobile%20Internet%20research%20center%20at%20Beijing-based%20iResearch%20Consulting%20Group%2C%20told%20the%20Global%20Times%20Tuesday%20that%20mobile%20game%20design%20is%20a%20hot%20area%2C%20and%20one%20that%20should%20interest%20entrepreneurs.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3E%22There%27s%20abundant%20demand%20in%20the%20mobile%20game%20market%2C%20which%20has%20been%20growing%20very%20quickly%20in%20recent%20years%2C%22%20Liu%20said.%20%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3E%22Many%20Internet%20service%20giants%20have%20not%20invested%20heavily%20in%20developing%20mobile%20games%2C%20and%20that%20gives%20SMEs%20an%20opportunity%20to%20grow%20without%20being%20pressured%20by%20the%20big%20players%2C%22%20he%20noted.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EForbes%20took%20into%20account%20a%20range%20of%20factors%2C%20including%20companies%27%20sales%20and%20profit%20growth.%20%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EA%20number%20of%20mobile%20Internet%20companies%20have%20had%20strong%20results%20over%20the%20past%20three%20years.%20For%20example%2C%20Boyya%2C%20which%20is%20based%20in%20Shenzhen%2C%20South%20China%27s%20Guangdong%20Province%2C%20made%20an%20annual%20net%20profit%20of%20159%20million%20yuan%20%28%2426.3%20million%29%20in%202012%2C%20up%20by%2030.9%20percent%20from%202011%2C%20according%20to%20the%20firm%27s%20prospectus%20issued%20on%20October%2031%2C%202013.%20%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EThe%20company%20also%20said%20its%20net%20%26not%3Bearnings%20have%20grown%20by%20more%20than%2030%20percent%20for%20three%20consecutive%20years%20since%202009.%20It%20has%20not%20released%20its%20annual%20report%20for%202013%20yet.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EWang%20Danqing%2C%20a%20partner%20at%20Beijing-based%20ACME%20consultancy%2C%20told%20the%20Global%20Times%20Tuesday%20that%20mobile%20Internet%20companies%20are%20often%20considered%20to%20be%20promising%20because%20it%20is%20easier%20for%20them%20to%20innovate%20than%20for%20firms%20in%20traditional%20industries.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3E%22Considering%20the%20fast%20development%20of%20China%27s%20Internet%20market%2C%20such%20companies%20can%20quickly%20carry%20out%20technological%20reforms%20and%20be%20innovative%20with%20their%20business%20models%2C%22%20Wang%20said.%20%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EIn%20December%202013%2C%20the%20Ministry%20of%20Industry%20and%20Information%20Techno%26not%3Blogy%20issued%204G%20licenses%20to%20China%27s%20three%20State-owned%20telecommunications%20companies%2C%20which%20will%20further%20boost%20deve-lopment%20of%20the%20mobile%20Internet%20market%2C%20Liu%20said.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EMeanwhile%2C%2014%20of%20the%20most%20pro%26not%3Bmising%20companies%20are%20listed%20overseas%2C%20compared%20with%20only%20six%20last%20year%2C%20and%2070%20percent%20of%20these%20companies%20are%20headquartered%20in%20Beijing%2C%20Shanghai%20and%20Guangdong%20Province%2C%20Forbes%20said.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3ECompared%20with%20their%20US%20and%20European%20counterparts%2C%20however%2C%20%26not%3BChina%27s%20entrepreneurs%20are%20not%20innovative%20enough%2C%20Wang%20said.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3E%22It%20is%20extremely%20difficult%20for%20Chinese%20SMEs%2C%20especially%20those%20in%20the%20online%20services%20market%2C%20to%20go%20global%2C%20because%20they%20always%20offer%20copycat%20products%20of%20US%20companies%20and%20succeed%20thanks%20to%20China%27s%20huge%20market%2C%22%20Wang%20said.%20%22Chinese%20companies%20are%20not%20used%20to%20being%20innovative%2C%20which%20is%20the%20biggest%20obstacle%20to%20their%20future%20development.%22%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EAlso%2C%20China%27s%20SMEs%20suffer%20from%20a%20lack%20of%20financing%20sources%2C%20such%20as%20angel%20investors%20and%20venture%20capital%20funding%2C%20Wang%20noted.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EWeak%20intellectual%20protection%20is%20another%20problem.%20%22Many%20SMEs%20fail%20because%20their%20ideas%20are%20copied%20by%20large%20players%20in%20the%20same%20industry.%20That%20forces%20them%20to%20exit%20the%20market%2C%20because%20they%20do%20not%20have%20a%20large%20customer%20base%20like%20big%20companies%2C%22%20said%20Wang.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3E%3CBR%3E%28Global%20Times%29%3CBR%3E%3C/FONT%3E%3C/P%3E