A workshop of automaker Geely in Ningbo, East China's Zhejiang province. [Photo/cnnb.com.cn]

Twenty companies in Ningbo, East China's Zhejiang province, made the 2023 list of the top 500 Chinese private enterprises, according to a recent report.

The figure is two more than the previous year, as revealed by the annual report released on Sept 12 by the All-China Federation of Industry and Commerce, a national body serving the private sector.

Among the companies from Ningbo, fashion brand Youngor secured the highest ranking at 46th place, with a revenue of 171.5 billion yuan ($23.55 billion). Following closely behind are Ningbo Jintian Copper (Group) Co Ltd at 61st place and China-Base Ningbo Group Co Ltd at 78th place, with revenues of 134.57 billion yuan and 116.08 billion yuan, respectively.

Meanwhile, 24 above-designated-size companies from Ningbo made the list of the top 500 Chinese private manufacturing enterprises, five more than the previous year. Additionally, three companies from Ningbo were listed among the top 500 Chinese private service companies, one less than in 2022.                  

On a national level, the top 500 private enterprises in China recorded a total revenue of 39.83 trillion yuan last year, marking a year-on-year growth of 3.94 percent.

Notably, JD, a leading e-commerce company, topped the revenue rankings with 1.05 trillion yuan, followed by Alibaba Group, a prominent e-commerce and technology heavyweight, with 864.53 billion yuan. Hengli Group, an oil and coal enterprise, came in third with 611.75 billion yuan, and Amer International Group, a nonferrous metal enterprise, followed closely behind with 608.76 billion yuan.

The entry threshold for the esteemed ranking stood at approximately 27.58 billion yuan in revenue, which is 1.21 billion yuan higher than the previous year.