22 Ningbo companies make top 500 Chinese private enterprise list

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

Twenty-two companies in Ningbo, East China's Zhejiang province, made the 2024 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 Oct 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 36th place, with a revenue of 191.59 billion yuan ($27.06 billion). Following closely behind are Ningbo Jintian Copper (Group) Co Ltd at 58th place and China-Base Ningbo Group Co Ltd at 73rd place, with revenues of 142.67 billion yuan and 126.09 billion yuan, respectively.

Meanwhile, 25 above-designated-size companies from Ningbo made the list of the top 500 Chinese private manufacturing enterprises, two more than the previous year. Additionally, five companies from Ningbo were listed among the top 500 Chinese private service companies, two more than in 2023.                 

On a national level, the top 500 private enterprises in China recorded a total revenue of 41.91 trillion yuan last year. Notably, JD, a leading e-commerce company, topped the revenue rankings with 1.08 trillion yuan, followed by Alibaba Group, a prominent e-commerce and technology heavyweight, with 927.49 billion yuan. Hengli Group, an oil and coal enterprise, came in third with 811.74 billion yuan.