Sixteen companies from Ningbo have secured spots on the 2023 list of the top 100 Zhejiang private enterprises, two less than the previous year.

The rankings, which were determined by the Zhejiang Provincial Bureau of Market Supervision and the Zhejiang Federation of Industry and Commerce, took into account various factors including revenue, tax payment, net profit, and credit information in 2022.

The 16 companies from Ningbo span a diverse range of sectors, including manufacturing, wholesale and retail, investment and asset management, and construction. Fashion brand Youngor achieved the highest ranking among Ningbo companies, coming in at number eight. It was closely followed by Ningbo Jintian Copper (Group) Co Ltd at 11th place, China-Base Ningbo Group Co Ltd at 14th place, Aux Group at 18th place, and Grand Resources Group Co Ltd at 19th place.

In 2022, the combined sales of the 100 listed companies in Zhejiang reached an all-time high of 6.77 trillion yuan ($933.19 billion), indicating a year-on-year increase of 12.85 percent. Moreover, the net assets of these companies experienced a year-on-year growth of 9.26 percent, reaching 2.24 trillion yuan.

This year, the entry threshold for the list rose yet again, surpassing the 20-billion-yuan mark for the first time, reaching 20.27 billion yuan. Comparatively, last year's threshold stood at 16.69 billion yuan, indicating a significant growth of 21.42 percent.