China's share of companies in private sector saw small uptick in second half of 2024 after years of decline

Share of aggregate market capitalization of China’s top 100 listed firms, by ownership, end-2010 to end-2024

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Notes: End-year data from 2010 to 2020; half-yearly from 2021. China’s top 100 listed firms are defined as the 100 mainland Chinese firms with the largest market capitalizations, whether listed in the mainland or abroad, including so-called variable-interest entities. "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.
Source: Wind, authors’ calculations.