The All-China Federation of Industry and Commerce released the 2025 list of China’s top 500 private enterprises on August 28, with 90 companies from Jiangsu Province included, the second-highest number nationwide.

JD.com, Alibaba, and Hengli Group ranked as the top three private enterprises in China. Suzhou-based Hengli also took first place among the top 500 private manufacturing enterprises.

In 2024, the private economy accounted for 58.2% of Jiangsu’s GDP. The province was home to 11 private enterprises each reporting annual operating revenue exceeding 100 billion yuan.