Fifty-four enterprises from Guangdong province have made the 2025 China's Top 500 Enterprises list, underscoring the province's growing economic strength. Major players like Huawei and BYD stand out not only in revenue but also in innovation.

Huawei entered the top 25 for the first time, with revenue reaching 862.07 billion yuan ($121.15 billion), while BYD broke into the top 50 following a 29 percent year-on-year revenue growth to 777.1 billion yuan, driven by strong global sales of new energy vehicles.

Guangdong-based companies also lead in research and development investments. Huawei is the national leader with nearly 180 billion yuan spent on R&D, while BYD follows with over 53 billion yuan. Tencent, another major Guangdong firm, is also among the top innovators.

The rise of tech and advanced manufacturing companies shows a larger shift from focusing on scale to emphasizing value in China's economy. Also, companies like TCL and Tencent are growing their global footprint, moving beyond just exporting products toward creating international supply chains and innovation ecosystems.

With Shenzhen-Hong Kong-Guangzhou now ranked as the world's top innovation cluster, Guangdong continues to strengthen its position as a hub of technological excellence and global competitiveness.

An aerial view of Shenzhen CBD. [Photo/IC]