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Representatives from Jiaxing and the Hurun Research Institute pose for a picture at the news conference of the Jiaxing 2021 Hurun Global 500. [Photo/WeChat account: jxfabu]

The Hurun Research Institute released the 2021 Hurun Global 500 in Jiaxing, East China's Zhejiang province, on Aug 20.

The list includes the 500 most valuable non-State-controlled companies in the world, ranked according to their value.

Apple was the world's most valuable company with a total market value of 15.8 trillion yuan ($2.43 trillion), followed by Microsoft, Amazon and Alphabet with respective market values of 13.7 trillion yuan, 11.7 trillion yuan, and 11.2 trillion yuan.

Fourty-seven Chinese companies, four less than the previous year, made it to the list with a total value of 36 trillion yuan, more than the combined total of companies from third- and fourth-placed Japan and UK.

These Chinese companies were led by Tencent, which was worth 4.5 trillion yuan (down 3 percent), and Alibaba (down 18 percent and 2 places to 9th). Shanghai was the preferred city for 159 of the non-China Hurun Global 500, followed by Beijing at 79.

"Hurun Report is delighted to partner with Jiaxing City from East China to release the Jiaxing 2021 Hurun Global 500," said Rupert Hoogewerf, chairman and chief researcher of Hurun Report. "Following the release of the list, Hurun Report in association with the government of Jiaxing City will be hosting the 2021 Jiaxing Hurun Global 500 CEO Conference, bringing together executives from the G500 to discuss opportunities for 2022."

In May, Hurun inked a cooperation agreement with the Jiaxing Municipal Government and the Jiaxing Economic Development Zone.

The agreement states that Hurun will release the list in the following five years, assist Global Fortune 500 companies in starting operations and establishing an operational headquarters in the city, as well as cooperate with Jiaxing Nanhu University in talent cultivation.