Zhejiang's private sector continued to expand steadily in 2025, according to data released on Jan 18 by the Zhejiang Private Economy Development Association.

By the end of 2025, Zhejiang had about 3.77 million registered private enterprises, accounting for 91.9 percent of all business entities in the province. The total rose 7.5 percent year on year, up 2.1 percentage points from 2024.

Hangzhou, Jinhua, Ningbo, and Wenzhou together accounted for about 70 percent of the province's total. Hangzhou ranked first, with 1.01 million registered private enterprises, or 26.8 percent of the provincial total. Jinhua followed with 623,800, while Ningbo and Wenzhou recorded 569,100 and 442,100, respectively.

In terms of scale and quality, Hangzhou continued to lead. The city had 38 companies listed among China's top 500 private enterprises ranked by the All-China Federation of Industry and Commerce, the highest number in the province.

Industry distribution across Zhejiang showed clear regional strengths. Hangzhou's private technology firms maintained strong momentum in areas such as artificial intelligence, big data, and cloud computing. Ningbo hosted more than 2,000 home appliance manufacturers. In Shaoxing's Keqiao district, more than 8,000 companies formed a complete textile industry chain. Jinhua accelerated the transition from traditional commerce to digital trade, with more than 300,000 cross-border e-commerce entities.

Private enterprises in technology-intensive sectors continued to grow faster than average. By the end of 2025, Zhejiang had 395,700 private enterprises engaged in scientific research and technical services, up 13.51 percent year on year. Those operating in information transmission, software, and information technology services reached 261,300, an increase of 12.53 percent, among the highest growth rates across all sectors.