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China’s publicly-traded internet firms hit $1.42 trillion in market value: report

By  Tan Yuan, Huang Qingxiao (People's Daily Online)    15:04, February 02, 2018

As of the end of last year, China had 102 publicly-traded internet companies at home and abroad with a total market capitalization of over 8.97 trillion yuan ($1.42 trillion), up 66.1% from a year ago, said a report released by China Internet Network Information Center on Jan .31.

Tencent, Alibaba, and Baidu were the largest three firms on the list, accounting for 73.9% of the total market value, the report said, adding that the three firms have also established prominent advantages in investment and merging, research, and innovation.

The report showed that online gaming companies accounted for 28.4% of the listed enterprises, and e-commerce, culture and media, internet finance, and software companies respectively stood at 14.7%, 10.8%, 9.8%, and 5.9%.

The US is the location of IPO for 41 Chinese internet companies, 54.8% of the total market capitalization.

According to the report, Beijing is home to 41 of the 102 listed enterprises, making the capital the largest base for such companies in China.

The report believes that the geographical distribution of these enterprises is a reflection of the industrial environment.

Though first-tier cities remain the most attractive location for such enterprises because of advantages in human resources, industrial development, and investment, more listed companies are expected to emerge in other regions thanks to innovation and the improvement of capital market, the report noted.

(For the latest China news, Please follow People's Daily on Twitter and Facebook)(Web editor: Bianji, Hongyu)

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