2019 China Top 500 Private Enterprises Released: Hongtaiyang and 59 Other Chemical Companies Make the List

Release Date:

2019-08-23

On August 22, the All-China Federation of Industry and Commerce released the “2019 Top 500 Chinese Private Enterprises Report.” Huawei Investment & Holding Co., Ltd. ranked first with revenue of RMB 721.2 billion, followed by HNA Group and Suning Holdings in second and third place, respectively, with revenues of RMB 618.3 billion and RMB 602.5 billion. Other companies making the top ten include Zhengwei International Group, Evergrande Group, JD.com, Country Garden Holdings, Hengli Group, Lenovo Holdings, and Gome Holding. The entry threshold for this year’s list was RMB 18.585 billion.

A total of 60 enterprises from the petroleum and chemical industries made it onto the Fortune Global 500 list. The top ten companies are: Hengli Group Co., Ltd. (No. 8), Zhejiang Hengyi Group Co., Ltd. (No. 28), Zhejiang Rongsheng Holding Group Co., Ltd. (No. 33), Shandong Dongming Petrochemical Group Co., Ltd. (No. 55), Wanda Holding Group Co., Ltd. (No. 61), Jiangyin Chengxing Industrial Group Co., Ltd. (No. 69), Lihua Yi Group Co., Ltd. (No. 71), Zhejiang Tongkun Holding Group Co., Ltd. (No. 91), Sanfangxiang Group Co., Ltd. (No. 99), and Shandong Haike Chemical Group (No. 110).

The rankings show that in 2019, the entry threshold for China’s Top 500 Private Enterprises reached a new high. This year, the threshold for the Top 500 Private Enterprises stood at RMB 18.586 billion; for the Top 500 Private Manufacturing Enterprises, it was RMB 8.563 billion; and for the Top 100 Private Service Enterprises, it was RMB 24.113 billion.

On this year’s list, super-large enterprises continued to grow. In 2018, 12 companies—including Huawei Investment & Holding Co., Ltd. (RMB 721.202 billion), HNA Group Co., Ltd. (RMB 618.293 billion), Suning Holdings Group (RMB 602.456 billion), and Zhengwei International Group Co., Ltd. (RMB 505.118 billion)—reported operating revenues exceeding RMB 300 billion, an increase of three compared with the previous year. Additionally, in 2018, 76 enterprises had total assets surpassing RMB 100 billion, up 15 from the prior year.

In addition, this year 20 private-sector companies from the Top 500 list made it onto the Global 500, an increase of three compared with last year. Meanwhile, 85 companies joined the ranking for the first time, up from the previous year.