The All-China Federation of Industry and Commerce released the List of the Top 500 Private Enterprises in China for 2024 on Oct 12, with nine private enterprises from North China's Shanxi province making the list, increasing by one from last year.

In recent years, Shanxi has greatly emphasized developing the private economy and implementing reform measures to support its growth. Various government departments have worked together to create a favorable environment that drives the growth and development of the private economy.

The private economy has become a significant driving force behind Shanxi's economic development, with a steady increase in the number of entities, continuous enhancement of innovation vitality, and ongoing improvements to scale and quality.

Most of the province's listed private enterprises are involved in the ferrous metal smelting and rolling processing industry, as well as petroleum, coal, and other fuel processing industries. Shanxi Daxiang Farming Group Co, a national agricultural industrialization enterprise, is the first primary industry enterprise to make the list.

In terms of revenue, Shanxi Pengfei Group Co led the pack, maintaining its position above the 100 billion yuan ($14.12 billion) mark with 105.1 billion yuan. Shanxi Jincheng Steel Holdings Group Co broke the 60 billion yuan mark, while Changzhi Nanye Industrial Group Co saw a significant increase to 39.6 billion yuan.

The All-China Federation of Industry and Commerce also released the List of the Top 500 Private Manufacturing Enterprises in China for 2024, with 12 enterprises from Shanxi making the list.