An outlet of Vipshop in downtown Beijing. [Photo provided to China Daily]
Seventeen companies based in Wenzhou, East China's Zhejiang province, made the 2022 List of the Top 500 Chinese Private Enterprises on Sept 7, local media outlets reported.
Tsingshan Holding Group, a homegrown stainless steel giant, led Wenzhou companies at 13th place with an annual revenue of 352.02 billion yuan ($50.59 billion).
Other listed companies included Duofu Group, which has a variety of businesses both at home and abroad, Vipshop, an online retailer platform, and Chint Group, a smart energy solutions provider.
Huafon Group, a chemicals new materials producer located in Rui'an, a county-level city administered by Wenzhou, witnessed a surge in its ranking from 310th last year to 177th this year.
Chint Group was the newest of the four Wenzhou enterprises to have its annual revenue surpass 100 billion yuan, while People Holding Group was the latest among the seven Wenzhou enterprises to have its annual revenue surpass 50 billion yuan.
The list was released by the All-China Federation of Industry and Commerce. The total revenue of enterprises on the list reached 38.32 trillion yuan, a year-on-year increase of 9.13 percent. The threshold for enterprises making the list also grew 2.87 billion yuan to 26.37 billion yuan this year.