Zhejiang province ranked first nationwide by number of companies in five major private enterprise rankings for a third consecutive year.

The All-China Federation of Industry and Commerce released the 2026 rankings of China's top 500 private enterprises, top 500 private manufacturing enterprises, and top 100 private service enterprises in Tianjin on Sept 22. Zhejiang had 104, 106, and 20 companies on the three lists, respectively, the most nationwide.

The federation had previously released rankings of the top 500 private enterprises by R&D investment and by invention patents. Zhejiang had 97 and 115 companies on the two lists, respectively, also the most nationwide.

Zhejiang has led the top 500 private enterprises ranking by number of companies for 28 consecutive years. Its 104 listed companies generated combined operating revenue of 9.95 trillion yuan ($1.49 trillion) in 2025, averaging 95.67 billion yuan each. Alibaba Group, Rongsheng Holding, and Geely Holding ranked among the national top 10.

The 104 companies reported combined profits of 473.19 billion yuan, with 97.11 percent profitable. Manufacturing companies accounted for 74 of the 104, or 71 percent.

Their investments covered 56 countries and regions across five continents.