On August 25, the All-China Federation of Industry and Commerce released its list of the top 500 private sector companies in 2010. Jiangsu Province-based Chinese Shagang Group, Suning Appliance Group and Guangdong-based Huawei Technologies Co. were the top three companies on the list, in that order.
The private sector enterprises entered on the list had to have revenues in excess of RMB 5.06 billion ($0.79 billion) in 2010. The total revenues of these enterprises exceeded RMB 6.9 trillion, with an average of RMB 13.97 billion ($2.186 billion), increasing by 47.48 percent year on year. Among the top 500 private sector companies in China on the list, the operating incomes of 220 enterprises exceeded RMB 10 billion ($1.565 billion), while in 2009 only 126 companies had an operating income in excess of this figure.