Ping An, Huawei and Amer Group are the top three of 2020's Top 500 Shenzhen Enterprises, and are followed by Evergrande, China Merchants Bank, Tencent, Vanke, BYD, SF Express and CGN, according to a report released at a summit Tuesday.
The report indicated that for an enterprise to be among this year's top 10 in Shenzhen, business income was at least 100 billion yuan (US$15. 3 billion) in 2019, up 10 percent over the threshold last year.
The report was released at the forum organized by Shenzhen Enterprise Confederation and Shenzhen Entrepreneurs Association at the Shenzhen Convention and Exhibition Center in Futian District. It revealed that the top 500 Shenzhen enterprises showed robust vitality and kept high-quality development in the face of complicated economic situations at home and abroad. The business revenue of the top 500 enterprises in 2019 was 7.62 trillion yuan, equivalent to 2.8 times the city's GDP in 2019.
Among the 500, 422 are private enterprises, making up 84 percent of the total. The revenue of private enterprises in 2019 made up 74.15 percent of the total, and net profits made up 69 percent of the total. Nearly 60 percent of the private enterprises realized profit growth. The revenue of State-owned enterprises (SOEs) had a 19.39 percent increase in 2019 over 2018. The average revenue and profit of SOEs within the top 500 enterprises were 25.3 billion yuan and 2.7 billion yuan, respectively.
Among the enterprises, more than half of them are engaged in high-tech industries.
