Beijing has made notable progress in its efforts to become a global model city for the digital economy, leveraging its strength in digital technologies to foster the integration of the real economy and digital economy.

According to a recent report and ranking on "new-type physical enterprises" published by China Enterprise Evaluation Association, a total of 34 Beijing-based companies made it to the top 100 list, positioning the city at the top echelon.

New-type physical enterprises refer to those deeply engaged in the integration of digital technology and the real economy. Overall, the development of new-type physical enterprises in China has made solid progress, achieving significant milestones in the fusion of digital and physical economies.

Represented by JD.com, iSoftStone, Qi An Xin, and Dmall, the listed Beijing-based companies cover 166 digital application scenarios. 

The total revenue of the top 100 companies in the list reached 29.8 trillion yuan (US$4.18 trillion) in 2023, up by 12.8% compared to the previous year. Among them, five companies reported revenues exceeding 1 trillion yuan, and 46 companies surpassed 100 billion yuan. The average market value of the listed companies stood at 153 billion yuan, with two companies exceeding 1 trillion yuan and 30 companies exceeding 100 billion yuan.

In recent years, the scope and depth of digital-physical integration have rapidly expanded. The digital aspect now includes both digital technology and data elements. This year's list includes 65 data resource companies and 35 data merchants. Among the data merchants, there are 12 technology-focused, 20 application-focused, and three service-focused companies, indicating an emerging ecosystem for data element circulation and transaction services.

Regionally, Beijing and Guangdong lead the way with 34 and 19 companies on the list, respectively, securing the top two positions. Zhejiang, Shandong, Shanghai, Jiangsu, and Fujian follow, making up the third echelon.

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