(Yicai) Sept. 16 -- Online retail and logistics giant JD.Com has entered the ranks of the top 10 Chinese enterprises for the first time in a list of the leading 500 businesses ranked by revenue, making it the only private company to have made it into the select group.

JD.Com moved up two spots to rank 10th in the 2025 China Top 500 Enterprises list, with revenue of CNY1.16 trillion (USD163 billion) last year, according to the annual rankings released yesterday by the China Enterprise Confederation and the China Enterprise Directors Association.

The other top nine are all large state-owned enterprises. State Grid headed the list with revenue of CNY3.95 trillion, followed by energy giants China National Petroleum and China Petroleum and Chemical. China State Construction Engineering took fourth place, and China Railway Engineering ninth. The country’s four largest commercial banks occupy fifth to eighth place.

The lowest annual revenue to make it into this year’s list was CNY47.96 billion (USD6.7 billion), up from CNY47.38 billion last year. Fifteen companies had revenue in excess of CNY1 trillion (USD140.5 billion). Some 251 of the companies listed were SOEs, while the rest were private sector firms.

Among the top 100 there were well-known technology giants such as China Mobile (14), Alibaba Group Holding (17), Huawei Technologies (23), Tencent Holdings (31), China Telecommunications (35), Legend Holdings (47), Midea (62), Haier Group (67), Pinduoduo (70), China Unicom (71), Xiaomi (76), and Meituan (80).

Most tech firms moved up on the list this year. The biggest gains were made by Wingtech, IEIT Systems, and Pinduoduo, which climbed 58, 47, and 46 rungs, respectively.

But many others moved down. For example, Suning.Com tumbled 44 places, Zhongxing Telecommunication Equipment sank by 13, and Gree Electric Appliances and Vipshop both slipped by 12.

Editors: Tang Shihua, Futura Costaglione