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On the subject of the web, overseas traders simply can’t appear to get sufficient of China.
The overall worth of listed Chinese language web companies hit a file 11.6 trillion yuan ($1.7 trillion) in final 12 months’s fourth quarter, up 18.three% from the earlier quarter, in response to a report by the China Academy of Data and Communications Know-how (CAICT).
On-line titans Alibaba and Tencent mixed accounted for greater than 60% of the worth of these companies, with market caps of almost four trillion yuan and three.21 trillion yuan, respectively. Meituan Dianping got here in at a distant third with 530 billion yuan, the report mentioned.
Through the quarter, Chinese language names accounted for 9 of the world’s 30 largest listed web corporations, the CAICT mentioned, with out being extra particular. Of the highest 30, 18 got here from the U.S., whereas Japan, South Korea and Brazil every had one.
Working income of China’s web companies grew 22.four% to 1.08 trillion yuan within the first 11 months of 2019, in response to a report issued on the final day of 2019 by China’s telecoms regulator. The CAICT is affiliated to the regulator, which publishes income information for the nation’s web sector each month.
Contact reporter Ding Yi (yiding@caixin.com)
Associated: Chinese language Web Firms’ Income Topped 1 Trillion Yuan in 2019
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