The total market capitalization of Chinese listed Internet companies by the end of the first quarter of 2022 fell 20.2% from the end of last year to 9.9 trillion yuan (about $ 1.47 trillion) . Such data are contained in a report released on Thursday by the Chinese Academy of Information and Communication Technology (CAICT).
A decrease in this indicator was also recorded in the third and fourth quarters of 2021 by 27.8% and 8.8%, respectively.
By the end of March this year, 78.6% of the total market value came from the top 10 internet companies. The top three included Tencent, Alibaba and Meituan.
According to the report, more than half of the world’s top 30 Internet companies are currently in the United States (17). China has nine companies, Singapore, Brazil, Japan and South Korea – one each.
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