The top 100 privately owned enterprises in Shanghai posted an average revenue of 2.7 billion yuan (US$395 million) last year, according to a latest industry survey.

The companies' profits surged 49 percent from the year before to 19.2 billion yuan.

The list containing Shanghai's top 100 private enterprises which generated the most revenue, compiled by Shanghai Enterprises' Association and Shanghai Federation of Industry and Commerce, was unveiled over the weekend.

Shanghai Fosun High Technology (Group) Co, Huaye Iron & Steel Group and Shanghai People Enterprise Group ranked the top three on the list.

The top 100 companies achieved a total revenue of 269.5 billion yuan last year, with Fosun High Tech topping the list with an income of 36.1 billion yuan.

Over the past year, the companies paid a total of 12.4 billion yuan in taxes to the city government.