The Rise of Chinese Internet Companies: Market Value Increases by 7.8% in Q1 2023
Steady Rise in Market Value
A report published in China showed that the market value of listed Chinese Internet companies rose steadily during the first quarter of 2023, up about 7.8% since the end of 2022, amid stability in domestic politics and economic recovery.
Total Market Value of Registered Chinese Internet Companies
According to the China Academy of Information and Communication Technology, as of the end of March last year, the total market value of registered Chinese Internet companies was 11.1 trillion yuan (about $1.56 trillion), up 7.8% from end of 2022.
Top Three Companies in Market Capitalization
Tech giants Tencent, Alibaba and Meituan occupy the top three positions in terms of market capitalization, according to China’s Xinhua news agency.