Huawei dominates the ranking drawn up by the ACFIC during the Summit of China Top 500 Private Enterprises 2018; second place for Suning
The ranking of the 500 largest private companies in China was presented. Leading the ranking is, not even to say, the giant of telecommunications devices Huawei; to follow, given the solid development of the business, the Suning e-commerce company.
This special ranking, drawn up by the All-China Federation of Industry and Commerce (ACFIC), was presented during the Summit of China Top 500 Private Enterprises 2018 held in Shenyang, the capital of Liaoning province in northeastern China.
Revenues from the nine largest private companies exceeded 300 billion yuan
Specifically, it can be seen that the revenues of the nine largest private companies exceeded 300 billion yuan ($ 44 billion) in 2017. These companies include (in order) Huawei, Suning, Amer International, JD.com, Weiqiao Pioneering Group, Legend Holdings, Evergrande, Gome Holdings and Hengli Group.
As for the global ranking, however, as many as 61 companies placed in the first 500 positions have seen their revenues exceed 100 billion yuan in the last year; 11 more than the report that referred to 2016.
In order to be among the top 500 companies in the country, turnover of more than 15.68 billion yuan is required
“China’s private businesses continued to take on a sound development momentum in 2017,” ACFIC vice chairman Huang Rong said, adding the private companies have steadily optimized its industrial structure.
A significant step forward for Chinese companies, which, to be listed in the top 500 of the country, had a turnover of more than 15.68 billion yuan. In fact, 18 of these were among the top 500 companies in the world, compared to 17 in 2016.
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