Huawei takes No.1 position among top 500 private firms

Source:Xinhua-Global Times Published: 2018/8/29 18:28:41

China on Wednesday unveiled its latest ranking for the country's top 500 largest private enterprises, with telecom equipment giant Huawei and e-commerce firm Suning atop the list amid sound development of the country's private business sector.

The list by the All-China Federation of Industry and Commerce (ACFIC) was made public at the 2018 Summit of China Top 500 Private Enterprises held in Shenyang, capital of Northeast China's Liaoning Province.

Revenues of the nine largest private firms all exceeded 300 billion yuan ($44 billion) in 2017. Those top companies include Huawei, Suning, Amer International, and Weiqiao Pioneering 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 momentum in 2017," ACFIC vice chairman Huang Rong said.


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