Five enterprises headquartered in Hefei National High-tech Industry Development Zone made the 2021 list of the top 500 new economy enterprises in China, which was released on July 23 in Xi'an, capital of Northwest China's Shaanxi province.

The five enterprises are Sungrow Power Supply Co Ltd (46th), iFlytek Co Ltd (57th), Ovctek China Inc (104th), Hefei Meyer Optoelectronic Technology Inc (249th), and Anhui Anke Biotechnology (Group) Co Ltd (442nd).

In addition, several enterprises on the list, such as Midea Group (16th), Gree Electric Appliances (30th) and Chongqing Zhifei Biological Products Co Ltd (31st), have established their R&D and production bases in Hefei National High-tech Industry Development Zone.

The ranking is based on an evaluation jointly carried out by the China Enterprise Evaluation Association, the China Economic and Social Data Research Center of Tsinghua University, and the China Index Academy.

Focusing on scientific and technological innovation, the evaluation is based on enterprises' maker value and valuations, scale, profitability, growth rate, and social impact. Tencent, Alibaba, and ByteDance took the top three spots on the list.