Five companies based in Taizhou, East China's Zhejiang province, have secured spots on the 2023 list of the country's top 500 private enterprises, the same number as the previous year.

According to the annual report recently released by the All-China Federation of Industry and Commerce, the combined revenue of the top 500 private companies reached 39.83 trillion yuan ($5.46 trillion) last year, marking a 3.94 percent year-on-year growth.

To be included in the ranking, companies needed to generate approximately 27.58 billion yuan in revenue, representing a 1.21 billion yuan increase over the previous year.

Zhejiang province has secured the highest number of listed companies in the nation for the 25th consecutive year, with 108 companies making the list this year.

Out of the 108 companies, five are located in Taizhou: Weixing Group Co Ltd, Tengda Construction Group Co Ltd, Tiansong Construction Group Co Ltd, Fangyuan Group Co Ltd, and Era Plastic Industry Group Co Ltd.

Additionally, four companies in Taizhou - Wexing Group Co Ltd, Era Plastic Industry Group Co Ltd, Leo Group Co Ltd, and Wepon Medical Technology Co Ltd - have been recognized among the top 500 Chinese private manufacturing enterprises.

In order to qualify for the list, companies needed to generate a minimum of about 14.52 billion yuan in revenue in 2022, a 1.94 billion yuan increase from the previous year.