The private sector’s share of revenue among China’s largest companies dropped slightly in 2021

Share of aggregate revenue of Chinese firms in Fortune 500 rankings, by ownership, 2004–21

Notes: The horizontal axis refers to the calendar year during which revenue is measured, which is before the year of publication of each Fortune Global 500 ranking. For example, Fortune’s 2022 ranking is based on 2021 revenue, the last point in the series. "Nonpublic" are firms in which state entities hold an equity stake of less than 10 percent. "State-owned" are firms in which the state owns a majority stake. "Mixed-ownership" are firms in which the state owns an equity stake between 10 and 50 percent.