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Published: 16:29, January 20, 2022 | Updated: 12:43, January 21, 2022
GBA has 23% of national top 500 private companies
By Chai Hua in Shenzhen
Published:16:29, January 20, 2022 Updated:12:43, January 21, 2022 By Chai Hua in Shenzhen

This undated file photo shows a  panoramic view of the financial area in Hong Kong. (PHOTO / XINHUA)

The Guangdong-Hong Kong-Macao Greater Bay Area had 117 companies in the Hurun China 500 Most Valuable Private Companies 2021 — a ranking of the nation’s top 500 non-State-owned enterprises according to value.

Some Hong Kong companies on the list were Techtronic Industries, Sun Hung Kai Properties, Galaxy Entertainment Group, CLP Holdings, CK Hutchison Holdings Ltd, and Chow Tai Fook Jewellery Group

Shenzhen remained the third-highest city in terms of number of companies on the list, which was published on Wednesday. For the first time, Shanghai overtook Beijing as the city with the most companies. Hong Kong and Hangzhou were tied for fourth with 30 firms each. In terms of provincial-level areas, Guangdong province ranked first with 87.

As to regional data, the Greater Bay Area ranked second nationally, accounting for 23 percent of the 500 companies, while the Yangtze River Delta region was top with 35 percent.

ALSO READ: Collaborating with rest of GBA benefits city's education industry

Shenzhen-based internet giant Tencent Holdings Ltd, with a valuation of $609 billion, headed the Hurun China 500 list, making the technology giant the most valuable company in the nation.

Another two Shenzhen-based companies — insurance behemoth Ping An Insurance (Group) Co Ltd and tech firm Huawei Technologies Co Ltd — also made the top 10.

Some Hong Kong companies on the list were Techtronic Industries, Sun Hung Kai Properties, Galaxy Entertainment Group, CLP Holdings, CK Hutchison Holdings Ltd, and Chow Tai Fook Jewellery Group.

Healthcare and energy industries grew significantly in the top two sectors, while many companies in traditional medicine, pharmaceutical retail, real estate and education industries dropped off the list.

READ MORE: GBA is key to HK’s being global education hub

The valuation for listed companies was their market value as of Nov 19, and that of non-listed companies was estimated with reference to listed companies from the same industry, or the amount of their latest round of funding.


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