Hurun China's top 500 valued at 56tn yuan

Staff reporter

The total value of China's top 500 private enterprises has risen by 6.6 trillion yuan (HK$7.08 trillion) over the past year to 56 trillion yuan, a Chinese corporate ranking survey shows.

This exceeds 90 percent of the total market capitalization of companies listed on the Shanghai Stock Exchange.

The Hurun China 500 Most Valuable Private Companies 2024, which covers mainland China, Taiwan, Hong Kong and Macau, sees Taiwan Semiconductor Manufacturing Company retaining its position as the most valuable private company, with a valuation of 6.98 trillion yuan, followed by Tencent (0700) and ByteDance.

The Shenzhen-based tech giant Tencent ranked second with a 3.42 trillion yuan valuation, gaining 570 billion yuan over the year, while Tiktok-owner ByteDance secured third place with 1.63 trillion yuan, up 230 billion yuan. Huawei re-entered the top 10, ranking 10th with a valuation of 680 billion yuan, an increase of 110 billion yuan.

This year's Hurun list features 74 new entrants, including 10 companies valued at over 40 billion yuan.

Beijing-based intelligent driving chip company Horizon Robotics (9660) is among the newcomers.

Research and media group Hurun also clarified that Chinese artificial intelligence star DeepSeek was not included in the list as it entered the global market after the ranking's cut-off date.