Eight private enterprises in Shanxi province were included on the list of the top 500 private enterprises in China in 2022 released by the All-China Federation of Industry and Commerce on Sept 7. 

The entry threshold for and total revenue of the top 500 private enterprises this year reached 26.367 billion yuan ($3.79 billion) and 38.32 trillion yuan, increases of 2.87 billion yuan and 9.13 percent, respectively, over last year. 

Compared with 2021, the number of shortlisted enterprises in Shanxi increased and their rankings rose. Pengfei Group ranked 96th, the highest Shanxi company on the list. Wintime Energy co ranked 485th, becoming the province's first private enterprise in the service industry to make the list. 

The majority of the eight shortlisted enterprises in Shanxi mainly focus on ferrous metal smelting and rolling processing, petroleum, coal and other fuel processing industries, while Nanye Industry Group based in the city of Changzhi was the only one in the computer, communication and electronic equipment manufacturing industry.

Five were shortlisted last year, with their revenue totaling 271.86 billion yuan this year and up 43.8 percent year-on-year. 

In recent years, Shanxi's private sector has gradually grown and its structure has been optimized. 

Last year, the added value of the private sector amounted to 1.04 trillion yuan. 

As of July this year, the number of market entities in the province had exceeded 3.64 million, including 906,000 private enterprises and 2.55 million individual industrial and commercial households, accounting for 95.0 percent of total market entities. 

From January to July this year, private investment of 238.96 billion yuan was in place in the province, accounting for 51.8 percent of fixed asset investment.