JD.com, Alibaba, Hengli head top-500 companies

China released its list of the top 500 private enterprises for 2026, highlighting the expanding strength of the nation's private sector. Among these companies, JD.com, Alibaba, and Hengli Group continued to lead, occupying the top three spots in the 2026 China Top 500 Private Enterprises list announced by the All-China Federation of Industry and Commerce in Tianjin.

The survey, which encompassed 6,350 companies with over a billion yuan in operating revenue in 2025, revealed China's private enterprises' ongoing advancements in innovation, efficiency, and competitiveness. These enterprises collectively reported a total operating revenue of 44.93 trillion yuan in 2025, marking a 4.35 percent increase.

Their combined net profit amounted to 1.83 trillion yuan, with 17 companies achieving over 20 billion yuan in net profit. The manufacturing sector within the top 500 list generated total operating revenue of 32.22 trillion yuan, a growth rate of 8.73 percent. Moreover, these top 500 companies are strategically oriented towards emerging and future industries, with 311 companies investing in 679 strategic emerging industry projects and 82 launching 112 future industry projects.

In terms of innovation, the surveyed companies allocated a total of 1.26 trillion yuan towards research and development, averaging 2.95 percent of revenue. Additionally, they paid 1.3 trillion yuan in taxes, with 254 companies each contributing over one billion yuan.