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August 23, 2019

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Huawei tops Chinese firms list

Source: Xinhua | 00:10 UTC+8 August 23, 2019 | Print Edition

China yesterday unveiled its latest rankings for its 500 largest private enterprises, with tech giant Huawei atop the list amid sound development of the country’s private business.

The list by the All-China Federation of Industry and Commerce came at the China Top 500 Private Enterprises Summit 2019 held in Xining, the capital of northwest China’s Qinghai Province.

Huawei topped the list with a revenue of 721.2 billion yuan (US$102 billion) in 2018. Top companies also include HNA Group, Suning, Amer International, Evergrande, JD.com, Country Garden, Hengli Group, Legend Holdings and Gome Holdings.

To be listed, an enterprise needed to have revenue exceeding 18.59 billion yuan last year.

Huang Rong, vice chairman of the ACFIC, said the total revenue of the top 500 companies reached 28.5 trillion yuan in 2018, up by 16.44 percent year on year, while the number of companies with revenue over 300 billion yuan has risen from nine to 12.

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