China's Internet Listed Companies in 2024 Q2 Report Update
TapTechNews August 22nd news, the China Academy of Information and Communications Technology released the research report Operation Status of China's Internet Listed Companies in the Second Quarter of 2024 today.
The report shows that in the second quarter of 2024, along with the significant decline in inflation data of various countries and the increase in expectations of the Fed's interest rate cut, the global major stock indices showed differentiation. The AI technology wave drove the Nasdaq and the Hang Seng Tech Index to rise, and market confidence recovered somewhat, and the market capitalization of China's listed Internet companies increased slightly.
As of the end of June 2024, the total market capitalization of China's listed Internet companies was 9.95 trillion yuan, increasing by 5.9% quarter-on-quarter.
The report also mentioned that 9 Chinese enterprises were listed in the global top 30 Internet companies by market capitalization; the market capitalization of enterprises listed in Hong Kong increased, and the market capitalization of the top 10 enterprises accounted for 79.5% of the total market capitalization.
TapTechNews learned from the document that the report also disclosed the data of the first quarter of 2024:
In terms of revenue, the revenue of China's listed Internet companies in Q1 2024 reached 1.177 trillion yuan, with a growth rate of 11%;
Globally, the growth rate of the top 10 enterprises' revenue increased to 14.2%, and the growth rate of Chinese enterprises was lower than that of the United States.
