On February 25th, the Hurun Research Institute released its 2024 Hurun China 500, identifying the top 500 non-state-owned enterprises in China based on enterprise value. Of these, 86% were listed companies. TSMC retained its position as the most valuable private company in China with a valuation of 6.98 trillion yuan. Fujian Province claimed 11 spots on this year's list, including CATL, ANTA Sports, Fuyao Glass, Sanan Optoelectronics, Yealink, Dali Foods, Yonghui Superstores, Rockchip, Hongfa Group, Amoytop Biotech, and Anjoy Foods. This marks the sixth consecutive year that the Hurun Research Institute has published its "Hurun China 500" list.

The total value of this year's Hurun China 500 enterprises reached 56 trillion yuan, an increase of 6.6 trillion yuan from last year, representing a 13% growth rate. The industrial products sector saw the largest increase in value and took the top spot as the leading industry among the 500 companies, followed by healthcare. Other sectors with notable growth included communications and software manufacturing. A total of 291 companies on the list reported increased valuations compared to last year, including 74 newly listed enterprises. Most of these growth leaders were from the industrial products, semiconductor, and consumer goods industries.

TSMC's value rose by 3.27 trillion yuan, solidifying its position at the top with a valuation of 6.98 trillion yuan — once again topping the list as China's most valuable private company. Tencent saw its value increase by 570 billion yuan to reach 3.42 trillion yuan, maintaining its second place ranking. ByteDance climbed one spot with a valuation increase of 230 billion yuan to 1.63 trillion yuan, securing third place. CATL, based in Fujian, held the fifth position with a valuation of 1.17 trillion yuan. Huawei's value rose by 110 billion yuan to 680 billion yuan, landing it at number ten.

In terms of city distribution, Beijing remained the top performer, home to 65 companies on the list. Shanghai followed with 50 companies, while Shenzhen came closely in third with 49.

Notably, many enterprises founded by Fujian-born entrepreneurs outside their hometowns also made significant contributions. For example, ByteDance and Meituan, both in the top ten, have strong ties to Fujian. Founders Zhang Yiming of ByteDance and Wang Xing of Meituan are both from Longyan, Fujian.