Authorities in East Zhejiang province recently released an official list of the top 100 Zhejiang private enterprises in 2022.

Nine enterprises from Zhejiang made the Fortune Global 500 list in 2022, including Alibaba Group Holding Ltd, Geely Automobile Holdings Ltd, and other companies, which is one more than last year, and 46 enterprises were shortlisted for the 2022 Top 500 Chinese enterprises.

In 2022, the total operating revenue of the top 100 enterprises in Zhejiang reached 8.9 trillion yuan ($1.24 trillion), an increase of 21.64 percent year-on-year, the total tax payment reached 334.04 billion yuan, up 22.04 percent over the previous year, and the total profit reached 506.24 billion yuan, a year-on-year increase of 4.91 percent. The total assets amounted to 8.26 trillion yuan, an increase of 6.64 percent over 2021.

The 2022 Zhejiang province top 100 enterprises list shows that 25 companies have operating incomes exceeding 100 billion yuan, an increase of five companies year-on-year.

In addition, the R&D expenses of the top 100 companies have increased by 21.48 percent, and the average R&D expenditure has reached 1.90 billion yuan. There are 82 companies with patents, with the number of patents owned by companies increasing by 21.75 percent, and the average number of patents owned by each company reached 1,252.