Twenty companies headquartered in Hangzhou, capital of East China's Zhejiang province, made onto the 2020 list of the top 500 Chinese companies, which was unveiled by the China Enterprise Confederation and China Enterprise Directors Association on Sept 28.

These 20 companies specialize in such areas of internet, automobiles, trade, petrochemical, high-end manufacturing, information technology and modern logistics.

The new list, issued for the 19th consecutive year, showed that the country's large firms have seen growing revenues over the years.

To be included onto the China's top 500 company list, the company has to receive at least 35.96 billion yuan ($5.37 billion) in annual revenue, up from 32.3 billion yuan of last year.

The top three companies in Zhejiang are all headquartered in Hangzhou, and they are Alibaba, WZ Group and Geely.

Two thirds of the Hangzhou companies making onto the list are private ones. According to the 2020 China's top 500 private company list recently released by the All-China Federation of Industry and Commerce, Hangzhou has 39 companies that appear on the list.