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Two Shaoxing-based companies were listed in the latest Top 500 Chinese Enterprises list released by the Chinese Enterprise Confederation on Sept 6.

This year marks the first time the combined operation revenues of the top 500 Chinese firms broke the 100 trillion yuan ($14.42 trillion) threshold, according to the confederation.

Hailiang Group was ranked 132nd in the list with an operation revenue of 200.27 billion yuan, while Zhongcheng Group was ranked 460th with an operation revenue of 47.57 billion yuan.

"The development of large companies is leading Shaoxing's economic growth," said an official from the municipal bureau of economy and information technology.

In 2021, the number of companies in Shaoxing with operation revenues higher than 1 billion yuan expanded to 115. The revenues of these companies accounted for 56.2 percent of the combined revenue of companies in Shaoxing.