Ningbo sees record 24 private firms on 2026 China top 500 list

A city view of Ningbo. [Photo/WeChat account: nbfb0574]

A total of 24 private enterprises from Ningbo, East China's Zhejiang province, have made the 2026 China top 500 private enterprises list, according to the All-China Federation of Industry and Commerce, which released the ranking on Sept 22.

The number of Ningbo companies on the list has risen for six consecutive years, reaching a new record high.

Three Ningbo companies remained in the 100-billion-yuan ($14.89 billion) revenue club: Youngor Group, Ningbo Jintian Investment Holding and China-Base Ningbo Group, with revenues of 181.16 billion yuan, 150.82 billion yuan, and 150.32 billion yuan, respectively. Fubang Holdings Group joined the club for the first time, reporting revenue of 102.89 billion yuan, up 16.82 percent year-on-year, bringing the city's total to four.

Meanwhile, 25 large private enterprises in Ningbo were included in the 2026 China top 500 private manufacturing enterprises list, while six made the top 100 private service enterprises list.

A survey of 500 large private enterprises in Ningbo showed that they generated combined revenue of 2.71 trillion yuan in 2025, with R&D spending reaching 37.17 billion yuan.

The figures highlight the continued growth, innovation, and resilience of Ningbo's private sector, with companies increasingly focusing on high-end manufacturing, new materials, and the digital economy.