Hangzhou home to most top 500 Chinese private enterprises

Hangzhou, capital of East China's Zhejiang province, retained its domestic leadership position among companies making the list of the Top 500 Chinese Private Enterprises by occupying 41 places this year, local media outlets reported.

The city has maintained its lead for the past 20 years.

Tech giant Alibaba, chemical fiber manufacturer Rongsheng Holding Group, and auto giant Zhejiang Geely Holding Group were the highest ranking Hangzhou enterprises, with annual revenues in 2021 reaching 836.41 billion yuan ($119.94 billion), 448.32 billion yuan, and 360.32 billion yuan, respectively.

Geely, Guangsha Holding Group and Alibaba were the three largest employers in the city, offering jobs to 128,928, 111,568, and 70,000 people, respectively.

Xiaoshan district, with a strong private sector, has nine enterprises on the list, followed by Shangcheng district's eight, Binjiang district's six, Gongshu and Xihu districts' five, Fuyang district's three, Yuhang district's two, and Linping district, Lin'an district, and Tonglu county's one.

The list was released by the All-China Federation of Industry and Commerce. The total revenue of enterprises on the list reached 38.32 trillion yuan, a year-on-year increase of 9.13 percent. The threshold for enterprises to make the list also grew 2.87 billion yuan to 26.37 billion yuan this year.

The federation also released the lists of the Top 500 Chinese Private Manufacturers and Top 100 Chinese Private Service Providers at the same time. Twenty-seven and 11 Hangzhou enterprises made the two lists, respectively. The thresholds for enterprises making the lists were 12.57 billion yuan and 30.12 billion yuan, respectively.