China's top 500 private firms hit over 44t yuan revenue in 2025

China's 500 largest private companies posted combined revenue of 44.93 trillion yuan ($6.3 trillion) in 2025, up 4.35 percent from a year earlier, an industry federation said on Tuesday, pointing to continued expansion among the country's biggest privately owned businesses.

According to the 2026 ranking of China's top 500 private enterprises released by the All-China Federation of Industry and Commerce, combined net profit rose at a slower 1.31 percent to 1.83 trillion yuan.

The figures offer a snapshot of the performance of China's largest private businesses as Beijing seeks to strengthen the private sector's role in supporting economic growth, employment and technological innovation.

Average revenue among the 500 companies reached 89.85 billion yuan, while average net profit stood at 3.65 billion yuan. The companies paid a combined 1.30 trillion yuan in taxes in 2025, with 254 firms, or 50.8 percent of the total, each paying more than 1 billion yuan.

JD, Alibaba Group and Hengli Group ranked as the three largest private enterprises by revenue, retaining the same top-three positions as a year earlier.

The ranking was based on the federation's 28th annual survey of large private enterprises. A total of 6,350 companies with 2025 revenue exceeding 1 billion yuan participated, with the 500 highest-revenue businesses included in the final list.