4 Jinan private enterprises make list of China top 500 private enterprises

Four Jinan private enterprises were included in the China top 500 private enterprises list, which was released at the China Top 500 Private Enterprises Summit 2023 held in Jinan on Sept 12.

The four enterprises are Taishan Steel, Jiuyang Group, Qilu Pharmaceutical, and Yinfeng Group.

Taishan Steel ranked 225th with its revenue of 51.62 billion yuan ($7.11 billion) in 2022, while Jiuyang Group ranked 231st with its revenue of 50.97 billion yuan. Qilu Pharmaceutical Group jumped from 371st in the previous year to 352nd this year, with its revenue of 34.83 billion yuan. Yinfeng Group, a new entry on the list from Jinan, generated a revenue of 31.67 billion yuan that secured it the 412th spot on the list.

The rankings of the top 500 private enterprises in China for 2023 are based on the companies' revenues in 2022. Shandong province has a total of 52 companies listed in the top 500, the third highest in China.

According to an analysis of the top 500 private enterprises in China for 2023, which was also released at the summit, the minimum threshold for entry into the top 500 private enterprises list stood at 27.58 billion yuan, an increase of 1.21 billion yuan compared to the previous year.

Most of the top 500 private enterprises in China are from industries like wholesale, black metal smelting and rolling processing, electrical machinery and equipment manufacturing.