BEIJING -- China's top 500 enterprises posted steady increases in spending on research and development (R&D) last year, with average R&D intensity rising for an eighth consecutive year, according to a 2025 enterprise-ranking report published by the China Enterprise Confederation and the China Enterprise Directors Association on Monday.

According to the annual list of the top 500 Chinese enterprises, the average R&D intensity of ranked companies hit a record high of 1.95 percent in 2024.

The list was drawn based on enterprises' 2024 operating revenues, with the entry threshold for last year's ranking at 47.96 billion yuan ($6.75 billion) -- an increase of 579 million yuan compared to the previous year.

Among the top 500 Chinese enterprises, 267 reported operating revenues exceeding 100 billion yuan, accounting for 53.4 percent of companies on the list.

The combined operating revenues of these listed companies totaled 110.15 trillion yuan in 2024, maintaining an established growth trend.