2002/1/20

According to a survey of private businesses in 2000 conducted by All China Federation of Industry and Commerce, the private sector in China showed a powerful momentum in its development. The Federation measured businesses in the private sectors with total revenue, total assets, total tax and net assets and determined top 500 businesses in this sector, with Legion Group Holding Co. Ltd and Hope Group Co. Ltd, leading the whole pack. Hangzhou Futong Group came out as the 45th.

The survey shows that the number of private businesses above a certain scale level has been on the increase across China. These businesses have been expanding their business scopes while performance indicators have been improving all the time. Meanwhile, the fierce market competition has reshuffled their positions in the list as a result of changes in total assets, sales revenue, net profit and tax, employees.

Generally speaking, overall performance indicators of the private businesses have been improving as businesses have expanded. In 2000, the top 500 achieved 324.6 billion in business revenue, 285 billion in assets, and 19.48 billion in net profit, recording 42%, 39% and 46% increases respectively. Of the top 500, the biggest firm recorded 28.44 billion yuan in business revenue and the smallest one took in 168 million yuan. In comparison, the correspondent figures in 1999 were respectively 20.29 billion and 116 million. The figures of 2000 showed a big increase over those of 1999.

Businesses in the private sector have made increasing contribution to the country's economic system as well as the society. Their contributions can be seen in three major measures: tax revenue, employees and foreign currencies earned through export, which all recorded increases to different degrees. In 2000, the top 500 in the private sector turned in 12.54 billion as tax payments, a 42.5% increase compared to 1999. The top 100 of the 500 paid 6.5748 billion in taxes.