The total market value of Chinese listed Internet firms hit a record high in Q2, according to a report released by China Academy of Information and Communications Technology. The total value reached 7.24 trillion yuan (about 1.1 trillion US dollars), an increase of 48.7 percent year-on-year.
The market value of Internet companies that went public on the US stock market accounted for 57 percent of the total market capitalization, followed by firms listed in Hong Kong and the Chinese mainland, said the report.
E-commerce business has been a major income for many Chinese Internet companies. /VCG Photo
The aggregate market capitalization of China's top 10 listed Internet firms rose to 6.27 trillion yuan (920 billion US dollars) during the period.
Worldwide, nine Chinese firms have ranked among the largest 30 Internet companies in terms of market value, with Alibaba and Tencent among the top 15.
According to the report, the business income of Chinese Internet firms primarily comes from e-commerce, online games and social networking services.
(Source: Xinhua)
