On September 18th, in Chongqing, the China Enterprise Confederation and China Enterprise Directors Association jointly unveiled the 2025 ranking of the top 500 enterprises in the services industry. (Photo/Xinhua)

Chongqing - The 2025 ranking of China’s Top 500 service enterprises was recently released in Chongqing, with the sector’s revenue topping 100 billion yuan for the first time. 

The 2025 ranking highlights strong gains in revenue, profit, and efficiency. The top 500 service enterprises reported total revenue of 51.1 trillion yuan, a 3.82% year-on-year increase; total assets of 404.9 trillion yuan, up 9.19%; and net profits of 3.34 trillion yuan, up 6.71%. Per capita revenue reached 3.28 million yuan and profit 215,000 yuan, both record highs.

A structural transformation is clearly underway within China's services industry. Emerging services performed strongly, with modern sectors including the internet, information technology services, finance, logistics and supply chain, and business services collectively accounting for 184 of the ranked companies, representing a gain of 12 companies from the previous year.

Conversely, traditional sectors such as real estate, conventional retail, and wholesale trade saw 14 fewer companies on the list. Information technology service enterprises emerged as innovation leaders, allocating 48.67% of their expenses to research and development with an average R&D intensity of 3.80%.

To qualify for the 2025 ranking of China’s Top 500 service enterprises, companies needed operating revenue of at least 47.96 billion yuan. Collectively, the top 500 posted 110.15 trillion yuan in revenue and 4.71 trillion yuan in net profit. They invested 1.73 trillion yuan in R&D, reaching an intensity of 1.95 percent, and held 2.24 million valid patents.

Chongqing placed 10 companies on the 2025 Top 500 service enterprises list, with combined 2024 revenue of 787.04 billion yuan, up 6.11% year-on-year. The lineup ranges from Seres Group, ranked 190th with 145.18 billion yuan in NEVs, to Longfor Group at 212th with 127.48 billion yuan in real estate, and Chongqing Rural Commercial Bank at 462nd in financial services. 

New entries—Seres, Chongqing Machinery and Electronics Holdings, and Zonsen Industrial Group Ltd.—underscore the city’s progress in high-end manufacturing and growing strength in services.

Chongqing, as the releasing city of this ranking, has shown its resolve in integrating manufacturing with modern services. The Chongqing Municipal People's Government and China Construction Technology Group signed a comprehensive cooperation agreement covering green building, urban renewal, smart construction, and cultural heritage preservation, establishing a green and low-carbon building technology center in Chongqing.

Chongqing offers substantial incentives to attract more service enterprises. The city's comprehensive investment costs run only 60-70% of China's coastal regions, supported by over 1.55 million vocational and university students, providing an abundant skilled labor supply. 

The municipal government is allocating 400 million dedicated funds for the service sector. Projects meeting criteria receive subsidies up to 10% of total investment, capped at 5 million yuan. Specific sector support includes 2 million yuan operational subsidies for certified municipal software public service platforms, rewards of 1 million yuan and 500,000 yuan respectively for newly recognized national and municipal-level industrial design centers.