Private economy is the “golden business card” of Zhejiang. In 2022, The private sector with its two-thirds size of the economy contributed 56.4% of fixed asset investment, 78.3% of foreign trade, and 71.7% of tax revenue. 107 Zhejiang enterprises found their way into the list of China’s top 500 private giants, ranking first in the country for 24 consecutive years. Zhejiang is the only province with over 100 private enterprises in the list. In 2022, the added value of private industries over designated size was 1,538.5 billion yuan, an increase of 5.2% over the previous year.

Well-known enterprises in Zhejiang include: Alibaba, Rongsheng, Geely , Tsingshan , Hengyi, Duofu International, Hailiang, Ant Group, Tianneng Holding Group, Wanxiang, Transfar, Youngor, Zhongtian Holdings Group, Chilwee, etc.