Hurun China 500 released non-state-owned enterprises: TSMC, Tencent, ByteDance ranked top three.

On February 5th, the Hurun Research Institute released the "Hurun China 500 Private Enterprises 2025", which listed the top 500 non-state-owned enterprises in China ranked by enterprise value. The list showed that TSMC once again topped the list as the highest-valued private enterprise in China with a value of 10.5 trillion yuan, Tencent remained in second place with a value of 5.3 trillion yuan, and ByteDance held on to third place with a value of 3.4 trillion yuan.