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JD.com, Alibaba, Hengli Group Top China's 2026 List of 500 Private Enterprises; Total Revenue Up 4.35% to 44.93 Trillion Yuan in 2025
JD.com, Alibaba (China) and Hengli Group retained the top three positions on China's 2026 list of top 500 private enterprises, released on Tuesday by the All-China Federation of Industry and Commerce. The top 500 companies reported a total operating revenue of 44.93 trillion yuan in 2025, an increase of 4.35 percent, with 110 companies exceeding 100 billion yuan in revenue. Their combined net profit reached 1.83 trillion yuan, and total R&D spending was 1.26 trillion yuan.
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