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Huawei Technologies Co, a telecommunications device manufacturer, was the largest privately-owned Chinese company by revenue in 2010, according to a joint report by the China Association of Private Businesses, the China Association of Statistics and the Private Business Research Institute of Peking University.
Huawei reported ¥185.18 billion in revenues last year, followed by ¥178.62 billion for steelmaker Shagang Group, and ¥156.22 billion for Suning Appliance Co (SHE: 002024), China's largest chain store by revenue.
China's top 500 private firms posted a combined ¥6.98 trillion in revenues in 2010, or ¥13.97 billion per firm, up 48.2% from 2009. They had a total of ¥5.88 trillion in assets as of the end of 2010, or ¥11.76 billion per firm, up 51.3% from a year earlier. Combined they had a total of 5.52 million employees by the end of 2010, or an average of 11,000 per firm, up 23.7% from a year earlier.
Ten of the 500 reported ¥50 billion or more in revenues and 220 reported at least ¥10 billion in revenues in 2010.
Of the 500, 331 were engaged in the manufacturing sector, according to the report. Most companies were involved in the smelting, construction, retail, machinery and electrical appliance industries, while fewer property developers and textile makers made the list due to the unfavorable factors in the macroeconomic environment, the report noted.
154 companies invested a total of $7.42 billion in 673 projects overseas by the end of 2010, the report added.
By region, Zhejiang and Jiangsu provinces had 142 and 112 companies respectively in the list, followed by 41 from Shandong province, 25 from Guangdong province and 23 from Shanghai.
$1 = ¥6.35
@2011 China Economy @ The China Perspective.
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