Ordos firms join list of top 500 Chinese private enterprises
Updated: 2022-09-23 (chinadaily.com.cn) Print
Businesses based in the city of Ordos -- located in North China's Inner Mongolia autonomous region -- recently obtained places in the country's rankings of top enterprises.
That's according to a report on the top 500 Chinese private enterprises, issued by the All-China Federation of Industry and Commerce, released in the national capital of Beijing on Sept 7.
The report showed that five companies from Inner Mongolia made it onto the list of the China Top 500 Private Enterprises in 2022, as well as eight enterprises which made it onto the list of the China Top 500 Manufacturing Private Enterprises.
Of these, four enterprises were from Ordos city.
Inner Mongolia Ordos Investment Holding Group Co, Inner Mongolia Yitai Group Co, Inner Mongolia Mengtai Group Co and Inner Mongolia Huineng Coal and Electricity Group Co were on the list of China Top 500 Private Enterprises in 2022.
To top it off, both Inner Mongolia Ordos Investment Holding Group Co and Inner Mongolia Mengtai Group Co also made it onto the China Top 500 Manufacturing Private Enterprises list.
According to the report, the entry threshold for the top 500 private enterprises was annual revenue of 26.37 billion yuan ($3.96 billion) -- 2.87 billion yuan more than last year -- and 88 of the top 500 companies had total assets exceeding 100 billion yuan.
Top Chinese private-sector enterprises are seeing steady improvement in their revenues and technological innovations, but are also facing slight drops in profitability and operational efficiency.