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Euromoney China CFO Survey

Categories of awards	Winners
Bank
Preferred Domestic Bank	ICBC
Preferred International Bank	Citigroup
Preferred Bank for Cash Management	ICBC
Preferred International Bank for Cash Management	Citigroup
Preferred Bank for Fixed Income	ICBC
Preferred Bank for Foreign Exchange	Bank of China
Preferred Bank for Trade Finance	Bank of China
Preferred International Bank for Foreign Exchange	HSBC
Preferred International Bank for Trade Finance	HSBC
Preferred Bank for IPOs	Morgan Stanley
Preferred Bank for M&A	Guotai Junan Securities
Preferred International Bank for M&A	Morgan Stanley

Service companies
Preferred Insurance Company	PICC
Preferred International Insurance Company	AIG
Preferred Accountants	PwC
Preferred Tax Adviser	PwC
Preferred Consulting Company	McKinsey
Preferred Law Firm	Jun He Law Offices
Preferred Express Delivery Company	DHL
Preferred Accounting Software	UFSoft
Preferred International Accounting Software	SAP

Cars
Preferred Business Car	Buick

City for business
Preferred City for Business	Shanghai

CFO Survey Respondent analysis

Area analysis
East	57%
North	17%
South	16%
West	8%
Central	2%

Respondent company sales
US $600 million +	42%
US $250m to $600m	49%
Less than US $250m	9%

Industry
Manufacturing	42%
Services industry	25%
IT	20%
Power	8%
Finance	5%

Company type
State-owned enterprise	76%
Private company	15%
Multinationals	9%

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The Euromoney China CFO Survey is designed to provide a review of the preferences of the CFOs of China's biggest and best companies. In April 2004, we sent out 960 survey forms to the CFOs of the 1000 largest companies in China by sales as well as some of those promising companies that have not yet achieved high revenues, including multinationals with considerable investment commitment to China and high-flying internet companies. One hundred and forty-six CFOs sent back completed questionnaires. We asked CFOs to nominate two companies for each question and, when compiling the results, weighted the first nomination twice the weighting of the second. For each category, we determined the winners as those companies with the highest number of weighted nominations, ranking the top-placed companies and commending those that came close. An analysis of the respondents indicates that 57% have their head office in East China, followed by North China. Over 40% work in companies with more than US$600 million sales last year, whilst only 9% work in companies with less than US$250 million. Most of the companies' industries can be defined as manufacturing and services. As expected, most of the companies are state owned, although there are a growing number of privately owned companies and multinationals.