Nearly half of them come from the Yangtze River Delta, one of the top 500 private enterprises in China
On September 12th, the All China Federation of Industry and Commerce released the "2023 Top 500 Private Enterprises in China" list and the "Research and Analysis Report". This year, the entry threshold for the top 500 companies has increased by 1.211 billion yuan compared to last year, reaching 27.578 billion yuan. Among them, JD Group, Alibaba Co., Ltd., and Hengli Group Co., Ltd. rank in the top three, and Alibaba and Hengli Group are all enterprises in the Yangtze River Delta.
The Yangtze River Delta has always been a key area for the development of private economy. This year, a total of 222 enterprises in the Yangtze River Delta have been shortlisted, a decrease of 3 compared to last year, but still occupy almost half of the market. From the perspective of the number of enterprises and operating income, Zhejiang remains the "first province" of private economy, and its advantages are showing an expanding trend. This year, a total of 108 enterprises in Zhejiang have been shortlisted, an increase of 1 compared to last year, and the number of enterprises has ranked first in the country for 25 consecutive years; These enterprises achieved a revenue of 8.7 trillion yuan in 2022, also ranking first. Among them, 42 enterprises in Hangzhou were shortlisted, ranking first in the country for the 21st consecutive year. In addition, a total of 89 enterprises were shortlisted in Jiangsu, ranking second in the number of enterprises after Zhejiang. Shanghai and Anhui respectively had 18 and 7 enterprises shortlisted.
From the perspective of industry structure, manufacturing remains the foundation of private enterprises. In the top 500 private enterprises list, there are a total of 322 manufacturing enterprises, an increase of 21 compared to last year, accounting for 64.4%. It is not difficult to understand that strong private economic provinces such as Zhejiang and Jiangsu are known for their advantages in the manufacturing industry. In recent years, various regions in the Yangtze River Delta have repeatedly proposed the "return to manufacturing" initiative, aiming to promote the transformation and upgrading of manufacturing enterprises and build a high-end manufacturing industry. Some of the achievements are also reflected in this ranking, and the role of manufacturing enterprises as "ballast stones" is more obvious.
However, by carefully observing the industry concentration of shortlisted companies in Zhejiang and Jiangsu, one can still see the different economic backgrounds of the two regions. For example, among the 108 shortlisted enterprises in Zhejiang, the housing construction industry is the strongest, occupying 12 seats with the largest number. The electrical machinery and equipment manufacturing industry, as well as the chemical raw material and chemical product manufacturing industry, closely follow, with 10 each shortlisted. The distribution of other industries is relatively average. The textile and clothing industry, clothing industry, computer, communication and other electronic equipment manufacturing industry, automobile manufacturing industry, non-ferrous metal smelting and rolling processing industry are all relatively advantageous industries in Zhejiang's private economy. In contrast, Jiangsu's shortlisted companies have a higher industry concentration and more distinct characteristics. Among them, the black metal smelting and rolling processing industry has obvious advantages, with a total of 16 companies shortlisted, followed by 9 companies in the electrical machinery and equipment manufacturing industry, and 8 companies each in the wholesale and housing construction industries.
Affected by multiple unexpected factors both domestically and internationally, private enterprises are generally under pressure, but the development resilience and risk resistance demonstrated by many leading enterprises are impressive. On the one hand, many private enterprises have increased their investment in research and development, focusing on independent innovation in technology. Among the top ten private enterprise 500 companies with research and development expenses in 2022, there are three Zhejiang enterprises. On the other hand, in the fields of integrated circuits, artificial intelligence, biopharmaceuticals, and online new economy, a number of innovative and growth oriented private enterprises have emerged in many parts of the Yangtze River Delta, injecting vitality into regional economic development.
Zhang Peirong, Director of the Consulting and Research Department of the Shanghai Enterprise Federation, believes that in the long run, the economic development of the Yangtze River Delta still faces significant pressure on industrial structure transformation, and there is an urgent need for high growth in emerging industries to take over and break free from dependence on traditional cyclical industries. "Stimulating the vitality of the private economy and promoting the construction of a new pillar industry system in the Yangtze River Delta will be the theme of economic development in the region for a long time to come," said Zhang Peirong.
In recent years, the private economy has become a backbone force that reflects local economic vitality and innovation capabilities. Since the beginning of this year, various policy measures have been introduced in various regions of the Yangtze River Delta to support the private economy. For example, Zhejiang has recently introduced 32 policies on the private economy, increasing policy innovation in some key areas of common concern, and proposing measures to support private enterprises in scientific and technological innovation, entrepreneurial investment, and government procurement tilt. In May of this year, Shanghai held a conference to promote high-quality development of the private economy, released 20 measures to promote private investment, established a "service package" system for key enterprises in Shanghai, and enhanced the comprehensive service capabilities of enterprises in high-level "going global". At the same time, we will increase financial support for technology-based small and medium-sized enterprises in Shanghai, and continue to promote service mechanisms such as "government meetings, banks, and enterprises", "public security, procuratorial and legal departments", and "spring rain nurtures seedlings".
