The All-China Federation of Industry and Commerce on September 12 released the 2023 list of China's top 500 private enterprises, with JD.com, Alibaba and Hengli Group securing the top three spots, respectively.

According to a research and analysis report released alongside the list, the entry threshold in terms of revenue in 2022 for the top 500 private enterprises stood at 27.578 billion yuan (about $3.83 billion), marking an increase of 1.211 billion yuan from the previous year. Notably, among these enterprises, 95 companies each achieved an annual revenue exceeding 100 billion yuan in 2022.

This is the 25th survey into China's major private enterprises conducted by the federation. A total of 8,961 companies, each with an annual revenue of over 500 million yuan, participated in the survey.