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All-China Federation of Industry and Commerce (ACFIC) on Wednesday unveiled its latest ranking for 500 largest private enterprises in China.

The list was released at the 2018 Summit of China's Top 500 Private Enterprises held in Shenyang, the capital city of Northeast China's Liaoning province. This year, there were 104 new entrants compared with last year.

To be included in the latest list, an enterprise needed to have revenues exceeding 15.68 billion yuan (US$ 2.3 billion).

According to the list, nine private firms saw their revenues exceed 300 billion yuan in 2017. Of the top 500 private companies, 61 firms had assets surpassing 100 billion yuan, 11 more than in 2016.

China's top 500 largest private companies paid a total of 1.03 trillion yuan in tax, which made up 7.6 percent of the country's total tax revenue.

Below are the top 10 largest private enterprises in China in 2018:

   Dashang Group

Region: Liaoning province

Industry: Retail

Revenue: 280.81 billion yuan

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