On August 28, the List of China Top 500 Private Enterprises 2025 was announced, with 38 enterprises of Hangzhou. The number of Hangzhou’s enterprises on the list has an increase of two compared to last year, ranking the first among the cities of China for 23 consecutive years.

Three enterprises in Hangzhou, like Alibaba, Rongsheng, and Geely, enter the List of China Top Ten Enterprises. Hangzhou Qingyun Holding Group, and Wanxiang Sannong Group appear on the list for the first time.