JD Tops 500 Private Chinese Enterprises List, Surpasses Alibaba

The All-China Federation of Industry and Commerce (ACFIC) released the 2022 top 500 private Chinese enterprises list, Global Times reports.
Internet and service company JD.com, Inc JD topped the list with 951.59 billion yuan ($136.46 billion) of revenue in 2021.
JD.com reported second-quarter FY22 revenue growth of 5.4% year-on-year to $40 billion, beating the consensus of $38.63 billion.
Alibaba Group Holding Limited BABA and energy enterprise Hengli Group bagged the second and third positions.
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Alibaba reported first-quarter FY22 flat revenue growth year-on-year to $30.69 billion, beating the consensus of $30.05 billion.
Huawei Technologies Co., Ltd came fifth with 636.807 billion yuan of revenue in 2021.
Tech giant Tencent Holding Ltd TCEHY ranked sixth, and property developer Country Garden ranked seventh.
Manufacturing enterprises ruled the list, holding 301 places.
The overall revenue of the top 500 private enterprises in 2021 hit 38.32 trillion yuan, up 9.13%, year-on-year.
The tax value paid hit 1.37 trillion yuan, accounting for 7.91% of the overall tax volume.
In foreign trade, Chinese private enterprises coughed up 50.1% of overall foreign trade volume.
Price Action: JD shares traded higher by 0.27% at $59.51 premarket on the last check Wednesday.