Listed Chinese internet companies see market capitalization drop in Q4
Source: Xinhua | 2022-02-05
China's listed internet companies worldwide saw their market capitalization decline in the fourth quarter (Q4) of last year, according to a report released by the China Academy of Information and Communications Technology.
Market capitalization of listed Chinese internet companies amounted to 12.4 trillion yuan (about 1.95 trillion U.S. dollars) during the October-December period last year, down 8.8 percent from the previous quarter, the report said.
The Q4 contraction narrowed from the previous quarter, the report said, attributing the drop to uncertainties including COVID-19.
China took up nine slots in the ranking of the world's top 30 listed internet companies by market capitalization. Internet giants Tencent, Alibaba and Meituan were the top three Chinese internet companies on the list, the report showed.
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