China releases 2026 top 500 private firms

China released its 2026 report on the top 500 private companies in the country, revealing that 110 of them generated operating revenues exceeding 100 billion yuan (approximately $14.82 billion). The top three positions on the list were occupied by JD.com, Alibaba, and Hangli Group. The report covers the largest companies by revenue, including 6,350 firms whose revenue surpassed 1 billion yuan in 2025. It highlighted that major corporations continued to enhance their innovation capabilities, efficiency, and encouraged investment in strategic and future-oriented industries, with a total of 1.26 trillion yuan spent on research and development in 2025, and a combined tax contribution of 1.3 trillion yuan. The ongoing growth and improved competitive efficiency of China’s private sectors are reflected in the total revenue reaching approximately 44.93 trillion yuan in 2025.

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