The Zhejiang Federation of Enterprises, the Zhejiang Entrepreneur Association, and the Zhejiang Industrial Economy Federation recently released the "Top 100 Zhejiang Enterprises in 2021," "Top 100 Zhejiang Manufacturers in 2021," and the "Top 100 Zhejiang Service Firms in 2021" lists.

The annual revenue figure threshold for a company to enter the first list was 19.8 billion yuan ($3.07 billion), up 15.9 percent from the figure for the 2020 list.

The top 100 Zhejiang enterprises were made up of 80 privately owned companies, 19 State-owned companies, and one with mixed ownership. Collectively, they generated 7.32 trillion yuan in operating revenue and 482.6 billion yuan in profits, up 7.46 percent and 12.88 percent from the corresponding figures for the 2020 list.

However, their total payment of taxes fell by 4.64 percent year-on-year to 273.7 billion yuan, which is largely attributable to the province's adoption of favorable taxation policies last year.

Their total assets surged 18.21 percent year-on-year to 7.749 trillion yuan.

Their average annual R&D expenditure stood at 1.62 billion yuan, up 12.69 percent from the previous year.

Twenty companies on the list had operating revenue exceeding 100 billion yuan. The top three in this regard were Alibaba (717.28 billion yuan), Geely (325.6 billion yuan), and Rongsheng (308.6 billion yuan).

The companies on the top 100 Zhejiang manufacturers list saw their operating revenue, profits, and assets grow by 8.68 percent, 16.41 percent, as well as 16.27 percent year-on-year respectively.

In comparison, the companies on the top 100 Zhejiang service firms list saw their operating revenue, profits, and assets grow by 7.62 percent, 17.81 percent, and 23.03 percent respectively.

Li Shuirong, chairman of Zhejiang Rongsheng Holding Group Co Ltd, attends a meeting in Hangzhou, Zhejiang province on Dec 26, 2018. [Photo/IC]