China's top 500 private enterprises see increasing operating scale, better performance: report

The operating scale of China's top 500 private enterprises has been steadily expanding, with overall performance improving, according to a report released by the All-China Federation of Industry and Commerce on Saturday.

The report shows that in 2023, the total operating revenue of the top 500 private enterprises was 41.91 trillion yuan (about 5.93 trillion U.S. dollars), with an average of 83.82 billion yuan (about 11.86 billion U.S. dollars) per enterprise, representing a 5.22 percent increase from the previous year.

The total assets reached 49.85 trillion yuan (about 7.05 trillion U.S. dollars), with an average of 99.69 billion yuan (about 14.11 billion U.S. dollars) per enterprise, marking a 7.64 percent increase from the previous year, said the report.

Among the 47 industries represented in the top 500 private enterprises, 25 industries saw increases in total operating revenue and total assets compared to the previous year. The growth mainly involved sectors such as electrical machinery and equipment manufacturing, computer, communication, and other electronic equipment manufacturing, software, and information technology services, according to the report.

In the top 500 private enterprises, the total operating revenue of manufacturing companies amounted to 27.53 trillion yuan (about 3.90 trillion U.S. dollars), marking an 8.31 percent increase from the previous year and accounting for 65.68 percent of the top 500 private enterprises.

The total assets reached 22.86 trillion yuan (about 3.24 trillion U.S. dollars), marking a 15.52 percent increase from the previous year and accounting for 45.86 percent of the top 500 private enterprises.

Meanwhile, the total research and development expenditure reported by enterprises in the top 500 private enterprises was 1.05 trillion yuan (about 150 billion U.S. dollars), with an average research and development investment intensity of 2.66 percent.

There are 17 companies with research and development expenses exceeding 10 billion yuan (about 1.42 billion U.S. dollars), said the report.

The top 500 private enterprises hold 666,700 valid patents, marking a 9.39 percent increase from the previous year. Among them, the number of valid domestic patents has risen by 8.86 percent, while the number of valid international patents has increased by 13.61 percent.

China's top 500 private enterprises see increasing operating scale, better performance: report

China's top 500 private enterprises see increasing operating scale, better performance: report

China's top 500 private enterprises see increasing operating scale, better performance: report

China's development of green industries and the country's initiative of building a unified national market have made steady progress over the first three quarters of 2024, according to the data published by the State Taxation Administration on Sunday.

The tax data highlighted that the development of green industries has gathered pace in Jan-Sept, reflecting a resilient and diversified economic landscape.

Sales revenue in the ecological protection and environmental governance sectors surged by 11.4 percent, while the green technology services sector, including renewable energy and energy-saving solutions, witnessed a growth of approximately 20 percent. As China's broader strategy has continued emphasis on transition toward a more sustainable and innovative paradigm, sales in the clean energy sector, including solar, wind, and hydropower, maintained a rapid growth.

The transportation and logistics sector also registered faster growth, with sales revenue rising by 10 percent year on year. In particular, the growth in multimodal transport and freight forwarding services saw increases of 33.5 percent and 11.3 percent, respectively. The transportation sector in Sept alone experienced a 10.6 percent growth.

Moreover, interprovincial sales volume rose by 2.5 percent, outpacing the overall growth rate of national enterprise sales revenue by 1.1 percent, reflecting a steady progress in building a unified national market.

China on April 10, 2022 unveiled guidelines for accelerating the building of a unified national market, envisioning breaking local protection and market fragmentation and unblocking key sticking points that weigh on economic circulation, as part of a wide-ranging push for an effectively regulated, fairly competitive and fully open market across the country.

China’s green industries, unified national market initiative make steady progress: data

China’s green industries, unified national market initiative make steady progress: data