JD.com, Alibaba and Hengli top China's private company ranking — ECNS
According to ECNS, the All-China Federation of Industry and Commerce (ACFIC) released the list of China's 500 largest private enterprises for 2026 in Tianjin, China, on September 22. JD.com, Alibaba (China) Co., Ltd. and Hengli Group Co., Ltd. took the top three places.
Company selection
A total of 6,350 private companies took part in the survey. The final list included 500 enterprises selected based on their operating revenue in 2025.
More current news is available on the UA.News Telegram channel Telegram.
Financial indicators
The combined operating revenue of the 500 companies on the list amounted to 44.93 trillion yuan in 2025, or about $6.66 trillion. This was 4.35% higher than a year earlier.
Another 110 companies reported annual revenue exceeding 100 billion yuan, or approximately $14.82 billion.
