Fortune magazine released the 2023 Fortune China 500 list on July 11.

According to statistics, the total revenue of the top 500 listed Chinese companies on the list this year reached 65.8 trillion yuan ($9.17 trillion), while their net profit was 4.7 trillion yuan. The annual revenue threshold for listed companies was nearly 23.7 billion yuan.

A total of 44 Zhejiang companies made the list, including four companies in Jiaxing: Zhejiang Huayou Cobalt Co Ltd (213rd), Tongkun Group (216th), Wingtech Technology Co Ltd (228th), and Xinfengming Group (253rd).

Alibaba ranked first among Zhejiang companies on the list, while the top three companies overall were China Petrochemical Corporation, China National Petroleum Corporation (CNPC), and China State Construction Engineering Corporation (CSCEC).

Ping An Insurance (Group) Company of China ranked fifth and is the highest-ranked non-state-owned enterprise. Private listed companies among the top 10 also included JD.com (7th) and Alibaba Group Holding Ltd (10th).

Three new forces in the new energy vehicle industry - NIO Inc, Li Auto Inc, and XPeng Inc- also made the list. NIO Inc ranked 263rd, Li Auto Inc ranked 287th, and XPeng Inc ranked 450th.