An impressive view of the Yili Future Intelligence and Health Valley in Hohhot. [Photo provided to chinadaily.com.cn]

Dairy giant Yili Group – based in North China's Inner Mongolia autonomous region – has won yet another prestigious accolade.

The company – known more formally as Inner Mongolia Yili Industrial Group Co – made it into the "2023 Top 500 Private Enterprises in China" list.

The announcement was made at the 2023 China Private Enterprises 500 Summit held in Jinan city, East China's Shandong province, on Sept 12.

The lists for the 2023 Top 500 Private Enterprises in China, the 2023 Top 500 Private Manufacturing Enterprises in China and the 2023 Top 100 Private Service Enterprises in China were released during the summit.

Yili Group, headquartered in Hohhot, Inner Mongolia, recorded a total revenue of 123.17 billion yuan ($16.95 billion), ranking it 73rd on the list.

Moreover, Yili also entered the 2023 Top 500 Private Manufacturing Enterprises in China list.

In recent years, the group is widely said to have been committed to innovation and sustainable development. With its high-quality products and market influence, it has continuously expanded its market share both in China and abroad.

The ranking in the 2023 Top 500 Private Enterprises in China is said to be a testament to Yili's exceptional performance in the industry.

Industry watchers say Yili's success can be attributed to its customer-centric approach, investment in research and development and a focus on product quality.

What's more, it has built a strong reputation for its dairy products and is a trusted brand with consumers. To top it off, Yili's commitment to social responsibility and environmental protection has also contributed to its positive image and market competitiveness.

As Yili continues to grow and excel, it is said to be setting an example for other private enterprises in China, promoting the development of the private sector and contributing to the country's economic prosperity.