Manufacturers, retailers lead ranking of private firms

Advanced manufacturers and retailers dominated the top 10 positions of China's 500 largest private businesses list in 2018, underlining the strong momentum of the country's private enterprises in pursuing high-quality growth.

Smartphone maker Huawei crowned the list for the third time with revenue hitting 603.62 billion yuan ($88.5 billion) in 2017, according to the list released by the All-China Federation of Industry and Commerce on Wednesday.

Retailers accounted for four of the top 10 positions, with e-commerce company Suning grabbing the second spot. The ranking was unveiled at the 2018 Summit of China Top 500 Private Enterprises held in Shenyang, the capital of Liaoning province.