China's 2026 Top 500 Private Firms Post 44.93 Trillion Yuan Revenue, JD.com Leads
On September 22, the All-China Federation of Industry and Commerce released the 2026 China Top 500 Private Enterprises list in Tianjin, based on its 28th survey of 6,350 firms with 2025 revenues over 10 billion yuan. JD.com, Alibaba, and Hengli Group led the ranking. The 500 firms reported total revenue of 44.93 trillion yuan (up 4.35% year-on-year) and net profit of 1.83 trillion yuan (up 1.31%). Total tax payments reached 1.30 trillion yuan, with 254 firms paying over 10 billion yuan. Huawei and Tencent led in R&D investment and patents.
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China's Top 500 Private Firms Listed; Huawei, Tencent Lead R&D and Patents
On September 22, the All-China Federation of Industry and Commerce released the 2026 list of China's top 500 private enterprises and an accompanying analysis report. JD.com, Alibaba, Hengli, Huawei, BYD, and Tencent ranked in the top six. The entry threshold for the list was 255.99 billion yuan. The report stated that the total revenue of the 500 firms reached 44.93 trillion yuan, a year-on-year increase of 4.35%. The report highlighted that the innovation capacity of private enterprises continues to strengthen, with total R&D investment reaching 1.26 trillion yuan and 1.3449 million R&D personnel, for an average R&D intensity of 2.95%. Huawei and Tencent topped both the R&D investment and invention patent lists, with Tencent retaining the top spot for R&D investment in the internet industry. In 2025, Tencent's R&D spending was 85.75 billion yuan and capital expenditure was 79.2 billion yuan, both record highs, driven by investment in AI infrastructure like the Hunyuan large model. As of June, Tencent had over 98,000 global patent applications and over 55,000 granted patents, focusing on AI and cloud technology. Huawei invested 192.3 billion yuan in R&D in 2025, with cumulative R&D spending exceeding 1.38 trillion yuan over the past decade, and holds over 165,000 valid global patents. In terms of social responsibility, the 500 firms paid 1.30 trillion yuan in taxes and employed 119.633 million people. Tencent donated 2.26 billion yuan in 2025, funding the 'Science Exploration Award' via the New Cornerstone Science Foundation to support young researchers. The report noted that with the implementation of the private economy promotion law, the environment for private sector innovation is expected to continue improving.
Read source2026 China Top 500 Private Firms Released; 35 Yangtze River Delta Firms in Top 100
On September 22, the All-China Federation of Industry and Commerce released the '2026 China Top 500 Private Enterprises' list, based on a survey of 6,350 firms with revenues over 10 billion yuan in 2025. The top 500 firms posted total revenue of 44.93 trillion yuan, up 4.35% year-on-year, with net profit of 1.83 trillion yuan, up 1.31%. Tax payments totaled 1.30 trillion yuan, with 254 firms paying over 10 billion yuan. In the top 10, Zhejiang and Guangdong each had three firms (Alibaba, Rongsheng, Geely; Huawei, BYD, Tencent), Beijing had two (JD.com, Lenovo), and Jiangsu and Shandong each had one (Hengli, Weiqiao). The report highlights a mix of real economy and digital economy leaders, with three internet firms in the top 10. Regionally, 35 of the top 100 firms are from the Yangtze River Delta, including 21 from Zhejiang, 11 from Jiangsu, and 3 from Shanghai. Anhui had no firms in the top 100 but three in the top 200: Sungrow Power (122nd), NIO (124th), and Chujiang Technology (199th).
Read sourceChina's top 500 private firms report 44.93 trillion yuan revenue, Xiaomi surpasses Gree
The 2026 China Private Enterprise 500 list, based on 2025 revenue data and released in Tianjin, shows that 6,350 companies participated in the survey. Beijing-based JD.com topped the list with 1.31 trillion yuan in revenue, followed by Zhejiang-based companies with 1.02 trillion yuan and Jiangsu with 899.1 billion yuan. Huawei, Geely, and Lenovo ranked 4th to 10th. Notably, Xiaomi ranked 14th with 457.3 billion yuan in revenue, an increase of 91.4 billion yuan year-on-year, nearly matching Midea's 458.5 billion yuan (13th place). Gree Electric ranked 45th with 171.1 billion yuan, a decline of 18.9 billion yuan, making Xiaomi's revenue approximately 2.67 times that of Gree. The total revenue of the top 500 firms reached 44.93 trillion yuan, with an average of 89.851 billion yuan per firm, up 4.35% year-on-year. A total of 110 firms exceeded 100 billion yuan in revenue, with 12 surpassing 500 billion yuan. Combined net profit was 1.83 trillion yuan, and total tax payments were 1.30 trillion yuan, with 254 firms paying over 1 billion yuan in taxes.
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China's Top 500 Private Firms in 2026: JD, Alibaba, Hengli Lead
On September 22, the All-China Federation of Industry and Commerce released the '2026 China Top 500 Private Enterprises' list in Tianjin. The top three are JD Group, Alibaba (China) Co., Ltd., and Hengli Group. This is the 28th survey of large-scale private enterprises, with 6,350 companies having annual revenues above 10 billion yuan in 2025 participating. The top 500 firms reported total operating revenue of 44.93 trillion yuan, an average of 89.851 billion yuan per firm, up 4.35% year-on-year. Their total net profit reached 1.83 trillion yuan, averaging 3.652 billion yuan per firm, a 1.31% increase. Total tax payments amounted to 1.30 trillion yuan, with 254 companies (50.80% of the top 500) paying over 10 billion yuan in taxes.
Read source2026 China Top 500 Private Firms: JD.com, Alibaba, Hengli Lead Ranking
On September 22, the All-China Federation of Industry and Commerce released the '2026 China Top 500 Private Enterprises' ranking in Tianjin. The list, based on its 28th survey of large-scale private firms, includes 6350 companies with 2025 revenues above 1 billion yuan. The top three are JD.com, Alibaba (China) Co., Ltd., and Hengli Group. Huawei and BYD round out the top five. The 500 firms posted total revenue of 44.93 trillion yuan, an average of 89.851 billion yuan per firm, up 4.35% year-on-year. Net profit totaled 1.83 trillion yuan, averaging 3.652 billion yuan per firm, up 1.31%. Total tax payments reached 1.30 trillion yuan, with 254 firms (50.8% of the top 500) paying over 10 billion yuan in taxes.
Read sourceChina's Top 500 Private Firms in 2026: JD.com, Alibaba, Hengli Lead
On September 22, the All-China Federation of Industry and Commerce released the '2026 China Top 500 Private Enterprises' list in Tianjin. The ranking was based on the 28th survey of large-scale private enterprises, which included 6,350 companies with revenues exceeding 10 billion yuan in 2025. The top three positions were held by JD.com, Alibaba (China) Co., Ltd., and Hengli Group. According to the survey results, the total revenue of the top 500 private enterprises reached 44.93 trillion yuan, with an average of 89.851 billion yuan per company, a year-on-year increase of 4.35%. Their total net profit was 1.83 trillion yuan, averaging 3.652 billion yuan per company, up 1.31%. The total tax payments amounted to 1.30 trillion yuan, with 254 companies (50.80% of the top 500) paying over 10 billion yuan in taxes.
Read source2026 China Top 500 Private Firms: JD.com, Alibaba, Hengli Lead
On September 22, the All-China Federation of Industry and Commerce, through the China Business Times, released the 2026 China Top 500 Private Enterprises list. The ranking is based on the 28th survey of large-scale private enterprises, with 6,350 companies reporting 2025 revenues of at least 10 billion yuan. The top three are JD.com (1.309 trillion yuan), Alibaba (1.017 trillion yuan), and Hengli Group (899 billion yuan). Huawei ranks fourth, followed by BYD, Tencent, Geely, Xiaomi (14th), and Meituan (19th). The 500 firms posted total revenue of 44.93 trillion yuan (up 4.35% year-on-year) and net profit of 1.83 trillion yuan (up 1.31%). The report attributes the data to the official survey and does not include opinions or forecasts.
Read source2026 China Top 500 Private Firms Released; 35 Yangtze River Delta Firms in Top 100
On September 22, the All-China Federation of Industry and Commerce released the '2026 China Top 500 Private Enterprises' list, based on its 28th survey of large-scale private firms. A total of 6,350 companies with annual revenues exceeding 10 billion yuan in 2025 participated, with the top 500 by revenue making the list. The total revenue of the top 500 firms reached 44.93 trillion yuan, an average of 89.851 billion yuan per firm, up 4.35% year-on-year. Net profit totaled 1.83 trillion yuan, averaging 3.652 billion yuan per firm, up 1.31%. Tax payments amounted to 1.30 trillion yuan, with 254 firms paying over 1 billion yuan in taxes, accounting for 50.80% of the top 500. Among the top 10 firms, Zhejiang and Guangdong each had three entries, including Alibaba, BYD, and JD.com. The top 10 reflected a mix of real economy and digital economy sectors, with JD.com and Alibaba ranking first and second, highlighting the vitality of the digital economy. Regionally, 35 firms from the Yangtze River Delta (YRD) made the top 100, including 21 from Zhejiang, 11 from Jiangsu, and 3 from Shanghai. Anhui had no firms in the top 100 but had three in the top 200, including Sungrow Power and NIO.
Read sourceShenzhen Has 23 Firms on 2026 China Private Enterprise 500 List; Huawei, BYD, Tencent in Top Six
According to a report from Central Broadcasting Network (CNR) on September 22, the All-China Federation of Industry and Commerce released the '2026 China Top 500 Private Enterprises' list and an analysis report in Tianjin. This was the first time the event was held in Tianjin. Based on headquarters location, 23 Shenzhen-based companies made the list, with combined operating revenue of approximately 3.88 trillion yuan. Huawei, BYD, and Tencent alone accounted for 2.44 trillion yuan, or 62.8% of the total Shenzhen revenue. The overall revenue of the 500 firms reached 44.93 trillion yuan, up 4.35% year-on-year, with net profit of 1.83 trillion yuan, up 1.31%. The entry threshold was 255.99 billion yuan, down 5.3% from the previous year. R&D spending among the 500 firms totaled 1.26 trillion yuan, with an average R&D intensity of 2.95%. Several Shenzhen companies improved their rankings, including Lingyi iTech (up 41 places to 240th) and Inovance Technology (up 27 places to 191st). The report also noted 11 healthcare-focused firms on the list with combined revenue of 549.36 billion yuan.
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