8 Shanxi firms among China's top 500 private enterprises

Eight firms in North China's Shanxi province were included in the list of China's top 500 private enterprises in 2023, which was released by the All-China Federation of Industry and Commerce on Sept 12.

This year, 8,961 companies across China – each with an annual revenue of over 500 million yuan ($68.60 million) – participated in the survey on private enterprises that was conducted by the federation. The threshold for joining the top 500 climbed to 27.58 billion yuan, up 1.21 billion yuan from the previous year. 

Shanxi ranked 13th in terms of the number of companies on the list, with several listees experiencing significant increases in their rankings compared with the previous year. 

In addition to Shanxi Pengfei Group, which edged up four places to 92nd, Wintime Energy Group Co jumped 145 spots to 340th and Nanye Industrial Group Co rose 137 places to 344th. 

In terms of industry distribution, most of the companies from Shanxi on the list are concentrated in the black metal smelting and rolling processing, petroleum, coal, and other fuel processing industries, except for Nanye Industrial Group Co. 

Its business covers investment management, LED photoelectric product manufacturing, injection molding, and coal fields, making it the only listee from Shanxi that operates in the computer, communication, and other electronic equipment manufacturing sectors.