China on Wednesday unveiled its latest ranking for 500 largest private enterprises, with telecom equipment giant Huawei and e-commerce firm Suning atop the list.

 

本周三，中国公布最新民营企业500强，电讯设备巨头华为和电商企业苏宁位居榜首。

 

The list by the All-China Federation¹ of Industry and Commerce (ACFIC) came at the 2018 Summit of China Top 500 Private Enterprises held in Shenyang, the capital of northeast China's Liaoning Province.

 

Revenues of the nine largest private firms all exceeded 300 billion yuan (44 billion U.S. dollars) in 2017. The top companies include Huawei, Suning, Amer International, JD.com, Weiqiao Pioneering Group, Legend Holdings, Evergrande, Gome Holdings and Hengli Group.

 

Of the top 500 private companies, 61 firms saw their revenues surpass 100 billion yuan last year, 11 more than in 2016.

 

"China's private businesses continued to take on a sound development momentum² in 2017," ACFIC vice³ chairman Huang Rong said, adding the private companies have steadily⁴ optimized⁵ its industrial structure with greater contribution to society. 

 

To be listed as China's top 500 private companies last year, an enterprise need to have its revenues exceeding 15.68 billion yuan. 

 

Eighteen of China's private firms were also listed among the world's top 500 companies, compared with 17 in 2016.

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