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China’s top 100 internet companies’ revenue skyrockets in 2016

Updated: Aug 4,2017 10:05 AM

A new report reveals the top 100 Chinese internet companies in 2017. Tencent, Alibaba, Baidu, and NetEase rank as the top five on the list. Tencent, Alibaba and Baidu occupy positions one, two and three for a fifth consecutive year.

The report was released by China’s Industry and Information Technology Ministry, and the Internet Society of China on Aug 4. The growth momentum of the industry is still strong, it showed. The combined revenue of China’s top 100 internet companies totaled 1.07 trillion yuan ($159 billion) in 2016, up nearly 47 percent year on year.

Last year, the top 100 internet companies poured about 75 billion yuan into research and development, up nearly 30 percent from a year earlier. More money this year are invested in areas especially for AI, big data, cloud computing and the internet of things.