(Yicai Global) Oct. 11 -- Huawei Technologies ranks first among China’s privately held tech companies for patents and investment in research and development, according to the findings of an industry group.

The All-China Federation of Industry and Commerce released this year’s rankings of the top 500 Chinese private firms for patents and R&D expenditure, Nanfang Metropolis Daily reported today.

The total R&D spend of the top 500 was CNY742.9 billion (USD115.5 billion) in 2021, of which Huawei spent the most at CNY141.9 billion. In second place were two internet companies, Alibaba Group Holding and Tencent Holdings. The report did not reveal their investment amounts in R&D.

The federation also analyzed the top 1,000 private companies for R&D investment. The top three industries are: computers, communications and other electronic equipment manufacturing, with total expenditure of CNY219.2 billion; internet and related services with CNY166.8 billion; and electrical machinery and equipment manufacturing with CNY62.6 billion.

In terms of regional rankings, among the top 1,000 firms for R&D investment, 92 are in the Guangdong-Hong Kong-Macao Greater Bay Area with a total R&D expenditure of CNY272.3 billion; 391 in the Yangtze River Delta region with CNY246.6 billion; and 79 in the Beijing-Tianjin-Hebei area with CNY124.6 billion.

The entry threshold for the top 500 in terms of patents was 49 valid invention patents in the previous year. Huawei, Tencent and Midea took the top three spots.

The 500 firms had a total of 330,000 valid invention patents, with Shenzhen-based Huawei having the most valid patents at 90,000.

Editor: Peter Thomas