On September 15, the China Enterprise Confederation released the "2025 China's Top 500 Enterprises" ranking. The list uses 2024 corporate operating revenue as the entry criterion.

The 2025 China's Top 500 Enterprises achieved total operating revenue of 110.15 trillion yuan, with the entry threshold reaching 479.60 billion yuan, marking the 23rd consecutive year of increase and representing a 5.79 billion yuan improvement. The companies achieved total net profit attributable to parent company shareholders of 4.71 trillion yuan, an increase of 4.39%.

Additionally, the number of companies with revenues exceeding 100 billion yuan grew significantly. Among the 2025 China's Top 500 Enterprises, 267 companies had operating revenue exceeding 100 billion yuan, an increase of 14 companies from the previous year, with hundred-billion-yuan enterprises accounting for 53.4% of the total.

The 2025 China's Top 500 Enterprises invested a total of 1.73 trillion yuan in research and development, with R&D intensity reaching a new high of 1.95%, marking eight consecutive years of improvement. Among the top ten companies by R&D intensity, five are from the communications equipment manufacturing industry, and eight are private enterprises.

The ranking maintains a balanced distribution between state-owned and private enterprises, with 251 and 249 companies respectively. Fifteen companies achieved operating revenue exceeding 1 trillion yuan.

China Enterprise Confederation Party Secretary Zhu Hongren noted that large enterprises represented by China's Top 500 actively responded to the complex and changing external environment, maintaining overall scale growth and steadily improving development quality. The 2025 China's Top 500 Enterprises have total assets of 460.85 trillion yuan, growing 7.46%, playing a strong leading role in promoting technological innovation, industrial upgrading, and participating in international competition.

Analysis of the ranking data reveals that automotive companies and advanced manufacturing enterprises have maintained growth in their representation in recent years, while companies from coal mining and black metallurgy industries have decreased, demonstrating the continuous optimization of China's industrial structure.

The ranking shows that 39 companies are newly included or re-included in the 2025 China's Top 500 Enterprises. The industries with the most new entrants are automotive and parts manufacturing, and logistics and supply chain, each adding 3 new companies. Coal mining decreased by 2 companies, and black metallurgy decreased by 1 company.

In the automotive sector, the ranking data shows that 8 automotive companies made it into the top 100. Specifically: BYD Company Limited ranked 26th overall; Shanghai Automotive Industry Corporation ranked 36th; Zhejiang Geely Holding Group ranked 39th; China FAW Group Corporation ranked 41st; Beijing Automotive Group ranked 50th; Chery Holding Group ranked 58th; Guangzhou Automobile Industry Group ranked 65th; and Dongfeng Motor Corporation ranked 73rd.