The total market value of Chinese listed Internet firms hit a record high in Q2, according to a report released by China Academy of Information and Communications Technology, Xinhua reports.
The total value reached 7.24 trillion yuan (about 1.1 trillion U.S. dollars), an increase of 48.7 percent year on year.
The market value of Internet companies that went public on the U.S.stock market accounted for 57 percent of the total market capitalization, followed by firms listed in Hong Kong and the Chinese mainland.
The aggregate market capitalization of China's top 10 listed internet firms rose to 6.27 trillion yuan during the period.
Worldwide, nine Chinese firms ranked among the global largest 30 internet companies in terms of market value. Alibaba and Tencent were among the top 15 Internet firms.
The business income of Chinese Internet firms primarily comes from e- commerce, online games and social networking services.