A bird's-eye view of Qianjiang New City, Hangzhou's CBD. [Photo/IC]

The All-China Federation of Industry and Commerce recently released the 2024 list of China's Top 500 Private Enterprises. Zhejiang continues to lead with 106 companies on the list, marking the 26th consecutive year that the province has secured the highest number of entries nationwide.

In addition to the Top 500 Private Enterprises list, Zhejiang also topped China's Top 500 Private Manufacturing Enterprises with 109 entries and China's Top 100 Private Service Enterprises with 19 entries.

Zhejiang companies on the Top 500 list achieved a total revenue of 9.2 trillion yuan ($1.3 trillion), accounting for 21.95 percent of the combined revenue of the Top 500 private firms. These companies span nine major industries, with manufacturing, construction, and wholesale/retail leading the pack.

Many of the listed firms are involved in strategic emerging industries, positioning themselves for future competitiveness. For instance, Chint Group is advancing in graphene materials and hydrogen energy solute ons, while Zhongnan Group is exploring recyclable materials, distributed photovoltaics, and energy-saving technologies.

Yuan Chengmao, vice-chairman of the Zhejiang Federation of Industry and Commerce, emphasized that the province will continue to support private enterprises, further enhancing its reputation as a leader in China's private economy.

A plane takes off from Hangzhou International Airport. [Photo/xsnet.cn]