18 Ningbo companies make top 500 Chinese private enterprise list

Eighteen companies from Ningbo, East China's Zhejiang province made the 2022 list of top 500 Chinese private enterprises.

According to the report released by the All-China Federation of Industry and Commerce on Sept 7, the top 500 private companies generated a combined revenue of 38.32 trillion yuan ($5.5 trillion) last year, a 9.13 percent year-on-year growth.

The entry threshold for the ranking was 26.37 billion yuan in revenue, 2.87 billion yuan more than last year. Eighty-eight of the top 500 companies each have assets exceeding 100 billion yuan.

E-commerce company JD topped the list for the first time with revenue of 951.59 billion yuan, followed by Alibaba Group, textile company Hengli Group and electronic information firm Amer International Group.

Fashion brand Youngor was ranked 52nd on the list with revenue of 143.94 billion yuan, becoming the highest ranked company from Ningbo. It was followed by Ningbo Jintian Copper (Group) Co Ltd (67th) and China-Base Ningbo Group Co Ltd (77th), which had revenues of 122.86 billion yuan and 109.54 billion yuan respectively.

Ningbo Hoshine Group Co Ltd and Haitian Plastics Machinery Group Co Ltd were the newcomers from the city on the list.

In addition, 19 above-designated-size companies from Ningbo made the list of top 500 Chinese private manufacturing enterprises, one less than the previous year, while four were listed among the top 500 Chinese private service companies, the same as in 2021.