Annual revenue of China’s 100 largest Internet companies has exceeded 1 trillion yuan

Almaty. August 4. Silkroadnews – The annual revenue of China’s 100 largest Internet companies has exceeded 1 trillion yuan, Chinese newspaper People’s Daily reported.
The total revenue of China’s 100 largest Internet companies in 2016 is said to reach 1.07 trillion yuan, which is a 46.8% increase compared to previous year, the newspaper wrote with reference to the Ministry of Industry and Information Technology of the People’s Republic of China that presented data on the top 100 Chinese internet companies for 2017 with the Internet Society of China.
The revenue of the top 100 companies is reported to overcome the 1 trillion-yuan line for the first time in the internet’s history in China, with this the average level of operating profit reached 9.44%.
Last year this group of companies raised their expenditures for research and development 29.7%, paying special attention to such areas as artificial intelligence and blockchain.
According to the publication, 28% of all the revenues and 73.2% of the total profit of the top 100 companies in 2016 accounted for Tencent and Alibaba share. The share of the top five leaders in total revenue exceeded 50%.
In addition to Tencent and Alibaba, ranking the first and the second respectively, top ten leaders included Baidu, JD /Jingdong/ NetEase, Sina, Sohu, Meituan Dianping, Ctrip and 360.
The annual rating of the 100 largest Internet companies in China has been released since 2013.