Table 1 Sample characteristics

Sample industry distribution

Building materials

32

8

Sample profit distribution (Yuan)

< 20 M

108

27

Chemical industry

20

5

20–40 M

86

21.5

Steel

16

4

40–60 M

68

17

Coal

18

4.5

60–80 M

66

16.5

Thermal power

10

2.5

80–100 M

44

11

Fermentation

22

5.5

> 100 M

28

7

Metallurgy

28

7

Sample sales income distribution

< 0.2B

82

20.5

Mining

16

4

0.2–0.4B

70

17.5

Textile

16

4

0.4–0.6 M

62

15.5

Tannery

20

5

0.6–0.8B

56

14

Brewing

22

5.5

0.8–1B

40

11

Electrolytic aluminum

8

2

1–1.2B

36

8

Pharmaceutical

34

8.5

1.2–1.4B

28

7

Cement

6

1.5

> 1.4B

26

6.5

Paper

12

3

Sample output value distribution

< 0.3B

104

26

Petrochemical

14

3.5

0.3–0.6B

92

23

Other

106

26.5

0.6–0.9B

76

19

Sample geographical distribution

Southeast China

60

15

0.9–1.2B

50

12.5

Southwest China

56

14

1.2–1.5B

38

9.5

Central and Southern China

72

18

1.5–1.8B

22

5.5

Eastern China

66

16.5

> 1.8B

18

4.5

Northwest China

56

14

Enterprise attribute

State-owned enterprises

82

20.5

Northeast China

32

8

Private enterprise

300

75

North China

58

14.5

Foreign enterprise

18

4.5