The All-China Federation of Industry & Commerce released a list of the top 500 Chinese private enterprises in 2016. Huawei Technologies Co Ltd took the crown from Lenovo Group Ltd who topped the list last year.

Twelve companies out of the top 500 are also on the list of the Fortune 500 globally, including Huawei Technologies Co Ltd, Lenovo Group, Geely Holding Group Co and Wanda Group.

The total revenue of the 500 enterprises in 2016 reached 16 trillion yuan($2.4 trillion), a growth of 10.06 percent from last year.

Let's take a look at the top 10 companies on the list.

10 Vanke Co Ltd

Revenue: 196 billion yuan

A billboard of the country's biggest real estate developer Vanke is on display on the rooftop of a building at a residential quarter developed by Vanke in Jinan, East China's Shandong province, June 25, 2016. [Photo/IC]