(ECNS) -- The real economy is playing increasingly prominent role among China’s top 500 private enterprises, with manufacturing companies accounting for 66.4 percent of the list, marking three consecutive years of growth in this sector.
This data comes from the 2024 list of China’s top 500 private enterprises, released on Saturday by the All-China Federation of Industry and Commerce (ACFIC) in Lanzhou.
The ACFIC’s 26th annual survey of large-scale private enterprise featured 9,642 companies reporting annual revenues over 5 billion yuan(about $710 million) in 2023. The top 500 companies by revenue were selected for the "2024 China Top 500 Private Enterprises" list.
JD Group ranked first for the third consecutive year with a revenue of 1.08 trillion yuan. Alibaba (China) Co., Ltd., and Hengli Group Co., Ltd., followed in second and third places, respectively.
In 2023, the total revenue of the top 500 private enterprises reached 41.91 trillion yuan, reflecting 5.22 percent year-on-year growth. Their total assets amounted to 49.85 trillion yuan, up 7.64 percent, while net profit after tax stood at 1.69 trillion yuan, a 2.97 percent increase.
The report also highlighted that the top 500 private enterprises invested a total R&D 1.05 trillion yuan in R&D, employing over 1.02 million R&D personnel, with average R&D investment intensity at 2.66 percent.
In terms of social responsibility, the top 500 private enterprises contributed a total of 1.29 trillion yuan, a 3.11 percent year-on-year increase, and provided employment for 10.66 million people, with an average of 21,300 employees per enterprise.
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