BEIJING — The income of China’s top 100 internet companies rose 46.8 percent year-on-year to 1.1 trillion yuan (about $160 billion) in 2016, official data showed on Agu 3.
It was the first time the total has surpassed one trillion yuan, according to calculations by Ministry of Industry and Information Technology (MIIT) and the Internet Society of China.
The companies registered average profits margin of 9.4 percent, driving a 8.7 percent increase in information consumption.
The Top 100 Internet Companies list has been released annually since 2013. The 2016 Top Ten were: Tencent, Alibaba, Baidu Inc, JD.com, NetEase, Sina, Sohu, Meituan-Dianping, Ctrip and Qihoo 360.
The 100 enterprises increased spending on research and development by 29.7 percent last year.
Together Tencent and Alibaba accumulated 28 percent of the top 100’s total revenue and 73.2 percent of profits.