Huawei Investment has topped the most recent list of China’s top 500 private enterprises.
The “2017 China Private Enterprise Top 500” (2017中国民营企业500强) was unveiled by the Shandong province government in the provincial capital of Jinan on Thursday.
Huawei Investment, Suning Holdings and Shandong Weiqiao Pioneering Group took out the top three positions in the latest list of China’s leading private concerns.
A total of nine companies on the list posted operating revenues of over 300 billion yuan (USD$45 billion) in 2016, with Huawei Investment breaching the 500 billion yuan threshold.
50 firms on the list had total assets in excess of 100 billion yuan, 16 more than the number in 2015. Real estate group Evergrande had the largest asset base out of companies on the list, with 13.50868 trillion yuan in assets.
The All China Federation of Industry and Commerce was responsible for compilation of the list in collaboration with the Shandong province government.
According to ACFIC vice-chairperson Huang Song 2016 saw a sizeable increase in the threshold for joining the ranks of China’s leading private concerns.
In 2016 the China’s top 500 private enterprises all had operating revenues of over 12.52 billion yuan, for an increase in 1.877 billion yuan compared to 2015, while the top 100 private companies all had operating revenues of over 15.037 billion yuan.
China’s top 500 private manufacturers all had operating revenues of over 5.355 billion yuan, for an increase of 835 million yuan compared to 2015.
The total tax payments of China’s top 500 private enterprises hit an historic high of 799.575 billion yuan in 2016, for a year-on-year increase of 24.53%.
While the vast majority of companies surveyed by ACFIC said that China’s business environment had seen improvements, they also pointed to pressure to reduce energy usage and emissions levels, insufficient protection of intellectual property rights, and a low level of openness in monopoly industries as major factors having an adverse impact upon private enterprise.
The survey also indicated that China’s private companies are keen to participate in mixed-ownership reforms of the state-owned enterprise sector.
Roughly a third of the top 500 owned shares in SOE’s, had established new joint-enterprises with SOE’s, or were already co-investors with SOE’s in joint-stock companies.