A total of 10 companies based in the Wuhan Economic & Technological Development Zone (WHDZ) were selected as 2020 Wuhan Top 100 Private Enterprises, according to two recently released rankings – the 2020 Wuhan Top 100 Private Enterprises list and Top 50 Private Manufacturing Enterprises list.
The entry threshold (total revenue) for the 2020 Wuhan Top 100 Private Enterprises list was 1.564 billion yuan ($228 million), a net increase of 286 million yuan over the previous year and a year-on-year increase of 22.38 percent.
Among the top 100 companies, 36 are service industry and comprehensive enterprises, 31 are manufacturing enterprises and 33 are construction and real estate enterprises.
The enterprises' total operating income in 2019 was used as the basis for the statistics released by the Wuhan Municipal Federation of Industry and Commerce.
In 2019, Wuhan's private economy's added value was 696.36 billion yuan, accounting for 42.9 percent of the city's GDP.
Wuhan's top 100 private enterprises' total revenue in 2019 was 961.56 billion yuan, an increase of 14.78 percent over the previous year, and 22 companies had a total revenue exceeding 10 billion yuan, an increase of six from a year earlier.
Innovation has become one of the major engines for enterprises' development. Data shows that since 2015, the scale of R&D investment in the city's top 100 private enterprises has increased annually.
The scale of R&D investment in the top 100 private enterprises announced this year is 3.13 times that of 2015, with an average annual growth rate of 25.63 percent. Meanwhile, the average R&D expenditure of enterprises is 2.82 times that of 2015, with an average yearly growth rate of 23.04 percent.
