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The Hurun Top 10 was worth US$2.8 trillion, up three-fold in five years and 10-fold that of ten years ago Huawei's value was down 10% to US$164bn and 7 th placeĭespite US government pressure, ByteDance’s value rose 32%, ranked 9 th with US$104.5bn Real estate continued to consolidate but the number of companies were down 30%Į-cars, entertainment and education are the three industries with the fastest growth this yearīYD and Weilai led the car industry, breaking into the Top 20 with valuations of US$60bn+ Healthcare overtook advanced manufacturing and real estate to become the Number One industry for the Hurun China 500 Two e-commerce platforms broke into the Top 10 for the first time, led by Pinduoduo and JD, up 4 times and 3 times respectively Meituan saw its share price rise three-fold, overtaking Ping An and Ant to third place

84 companies saw their value double with five companies growing by over US$100bn in the last year, led by Tencent and followed by Meituan, Alibaba, Pinduoduo and JD The Hurun China 500 rose by 55%, to hit US$16bn of value on average, a new record. Tencent grows 75% or US$300bn to become China’s most valuable private company with a market cap of US$743bn, overtaking last year’s Number One Alibaba