Chinese public Internet firms hit US$1.43 tln market value
Baidu, Alibaba and Tencent, collectively knowns as BAT, have dominated the top three places
The number of Chinese listed Internet companies have risen 12% from a year earlier, adding to a total number of 102 public Internet firms by the end of 2017, according to a report published by the China Internet Network Information Center and reported by The Paper.
Meanwhile, the overall market capitalization was recorded as 8.97 trillion yuan (US$1.43 trillion). Baidu, Alibaba and Tencent, collectively knowns as BAT, have dominated the top three places, with a market value of 500 billion yuan, 2.9 trillion yuan, and 3.1 trillion yuan, respectively.
Among the Internet firms, 46 out of 102 went public in domestic stock markets, 41 of them are listed on American stock exchanges and 15 of them are listed on the Hong Kong stock exchange.
The report also said some Chinese Internet companies listed overseas have begun to privatize and return to the domestic market.
On the one hand, the relatively high price earnings ratio of the information and software industry in the domestic securities market is luring them overseas. On the other hand, the increasingly improved financial environment at home is yet another attraction.