Chinese Internet Companies’ Market Value Increased Steadily in Q1 2023: Report

During the first quarter of 2023

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A report issued in China showed that the market value of listed Chinese Internet companies increased steadily during the first quarter of 2023, by about 7.8% from the end of 2022, against the background of the stability of domestic policies and the recovery of the economy.

As of the end of last March, the total market value of listed Chinese Internet companies amounted to 11.1 trillion yuan (about 1.56 trillion US dollars), up 7.8% from the end of 2022, according to the Chinese Academy of Information and Communications Technology.

In terms of market capitalization, technology giants Tencent, Alibaba and Meituan occupy the top three positions, according to the Chinese news agency Xinhua.

The report showed that revenues of listed Internet companies rose 6.3 percent year on year to reach 1.08 trillion yuan in the fourth quarter of 2018.

2023-06-04 10:14:00
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