107 companies from Zhejiang were shortlisted for the top 500 private enterprises in China, ranking first in China for 24 consecutive years

Chinanews.com, Hangzhou, September 7th (Guo Qiyu) The All-China Federation of Industry and Commerce released the 2022 Top 500 Private Enterprises in China list on the 7th. The Zhejiang Provincial Federation of Industry and Commerce released an analysis report on the same day, showing that 107 enterprises from Zhejiang were shortlisted for the top 500 private enterprises in China this year. Ranked first in the country for 24 consecutive years. Among them, 94 enterprises were shortlisted for the top 500 private enterprises in China's manufacturing industry, and 16 enterprises were shortlisted for the top 100 private enterprises in China's service industry.

The top 500 private enterprises in China are based on the survey of large-scale private enterprises conducted by the All-China Federation of Industry and Commerce, and are formed according to the ranking of the operating income indicators of the participating enterprises in the previous year. In 2022, the entry threshold for the top 500 private enterprises in China is 26.367 billion yuan, the entry threshold for the top 500 private enterprises in the manufacturing industry is 12.572 billion yuan, and the entry threshold for the top 100 private enterprises in the service industry is 30.116 billion yuan.

Zhejiang is a province with a large private economy. In 2022, the total revenue of the 107 shortlisted companies in Zhejiang will be 7,876.285 billion yuan, an increase of 1,596.985 billion yuan over last year. Among them, there are 18 companies with a revenue of over 100 billion yuan, and 45 companies with a revenue of 30 billion to 50 billion yuan.

From the perspective of industry structure, among the 107 shortlisted companies in Zhejiang, the manufacturing industry is more dominant, with 65 companies on the list, accounting for 60.75%. In addition, this year's shortlisted companies also involve construction, comprehensive, wholesale and retail, leasing and business services, information transmission, software and information technology services, transportation, warehousing and postal services, etc.

Innovative research and development is a strong driving force for the development of private enterprises in Zhejiang. Among the 107 short-listed enterprises in Zhejiang, the top 20 R&D investment companies have a total R&D expenditure of 152.508 billion yuan, the top 20 domestic patent authorizations are 16,892, and the number of invention patents is 7,338.

"In an environment where the overall economic situation is not very optimistic, Zhejiang's short-listed companies have maintained strong investment efficiency and profitability." The relevant person in charge of the Zhejiang Federation of Industry and Commerce analyzed that the average sales net profit rate of the 107 short-listed companies in Zhejiang in 2021 is 5.31%, the highest value in the past five years. The return on equity and the net interest rate on total assets were 15.16% and 7.04% respectively, a significant recovery from 2020.

At the same time, the social contribution of private enterprises in Zhejiang has become more prominent. On the one hand, the 107 shortlisted companies in the province will have a total tax payment of 263.281 billion yuan in 2021, of which 3 companies will have a total tax payment of more than 10 billion yuan. On the other hand, the total number of employees of the 107 shortlisted companies will reach 1,903,800 in 2021, and the new employment in that year will increase by 2.82% year-on-year, which is higher than the growth rate of new employment in Zhejiang.