Benzinga | Jan 20, 2022 09:43AM EST

Tencent Emerges As China's Most Valuable Private Company: Hurun Report

* Tencent Holdings Ltd (OTC:TCEHY) tops China's most valuable private company list in 2021, according to the Hurun Report. Tencent heads the list with a valuation of $609 billion.

* Alibaba Group Holding Ltd (NYSE:BABA) dropped to third place.

* The Hurun Research Institute has released the list of the Top 500 China non-state-controlled enterprises ranked according to their value.

* Related Content: How Tencent Aims To Dodge China's Tech Crackdown

* Semi-conductor giant Taiwan Semiconductor Manufacturing Co Ltd (NYSE:TSM) was second with a value of $577 billion.

* The valuation of ByteDance Ltd tripled in 2021, rising to the fourth position.

* Battery-maker CATL entered the top 10 for the first time, with its value rising 2.5 times to $233 billion.

* The report notes that healthcare and energy grew significantly, becoming the top two sectors.

* As per the report, 88% are listed companies. Among them, 27 companies are listed in the U.S.

* Price Action: BABA shares traded higher by 6.50% at $136.06 on the last check Thursday.