China’s leading private firms strike gold in overseas markets: survey
Amid a challenging environment, China’s largest private companies reported a nearly 15 per cent increase in overseas revenue in 2024
As ranked by the All-China Federation of Industry and Commerce – a state-adjacent chamber of commerce that functions as a channel between government and private business – the country’s 500 largest private firms generated a combined overseas revenue of 3.19 trillion yuan (US$445.8 billion) last year, up nearly 15 per cent from 2023.
The federation revealed the figure on Thursday in its 2025 edition of the Top 500 Private Enterprises, an annual list based on total revenue.
“Facing heightened external pressures and increasing internal challenges...the top 500 private firms have maintained an overall trend of steady progress, with improvements in quality, profitability and core competitiveness,” the federation noted in its report.
The assessment came amid an improved policy environment for the private sector, where, according to official data, 55 million firms contribute over half of China’s total tax revenue, 60 per cent of its gross domestic product and 80 per cent of urban jobs.
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