2025 China Private Enterprise Top 500 Ranking Released
The All-China Federation of Industry and Commerce released the 2025 China Private Enterprise Top 500 ranking on August 27, 2025. JD Group secured first place for the fourth consecutive year with 2024 revenue of 1.1588 trillion yuan (approximately 23.176 trillion yen). The ranking is based on the 27th survey targeting 6,397 private enterprises with annual revenues of over 1 billion yuan.
Top Companies' Revenue and Growth Rates
Top 3 companies:
- 1st: JD Group 1.1588 trillion yuan (+6.8% year-on-year)
- 2nd: Alibaba (China) 981.8 billion yuan (+5.9% year-on-year)
- 3rd: Hengli Group 871.5 billion yuan (+7.4% year-on-year)
Top 10 companies: Followed by Huawei Investment Holdings (4th), BYD (rising from 7th to 5th), Tencent Holdings, Zhejiang Rongsheng Holding Group, Zhejiang Geely Holding Group, Shenghong Holdings, and Shandong Weiqiao Pioneering Group.
Overall Performance and Industrial Structure
Top 500 companies' combined performance:
- Total revenue: 43.05 trillion yuan (+2.7% year-on-year)
- Total assets: 51.15 trillion yuan (+2.6% year-on-year)
- Net profit: 1.8 trillion yuan (+6.5% year-on-year)
- Tax payments: 1.27 trillion yuan
Industry distribution: 360 companies (72%) of the top 500 belong to secondary industry, with 332 companies (66.4%) in manufacturing. 29 companies are ranked in the 2025 Fortune Global 500.
Employment and R&D Situation
Job creation: Total employment of 11.092 million people. Automotive manufacturing employs the most with 1.434 million people (12.9% of total).
R&D investment: Total R&D expenses of 1.13 trillion yuan, average R&D investment intensity (ratio to revenue) of 2.8%.
Export performance: Total export value reached 1.77 trillion yuan (+5.2% year-on-year).
Related Rankings Released Simultaneously
On August 27, the "2025 China Manufacturing Private Enterprise Top 500 Ranking" and "2025 China Service Industry Private Enterprise Top 100 Ranking" were also released, revealing detailed corporate trends by industry sector.