China Academy of Information and Communications Technology: The total market value of my country's listed Internet companies in Q2 2024 is 9.95 trillion yuan, a month-on-month increase of 5.9%

According to news from this site on August 22, the China Academy of Information and Communications Technology today released a research report on the "Operation Status of my country's Internet Listed Companies in the Second Quarter of 2024". The report shows that in the second quarter of 2024, as inflation data in various countries fell significantly and expectations for an interest rate cut by the Federal Reserve increased, major global stock indexes diverged. The wave of AI technology has driven up the Nasdaq and Hang Seng Technology Index, market confidence has recovered, and the market value of my country's listed Internet companies has rebounded slightly. As of the end of June 2024, the total market value of my country's listed Internet companies was 9.95 trillion yuan, an increase of 5.9% from the previous quarter. The report also mentioned that 9 Chinese companies are on the list of the top 30 global Internet companies by market value; the market value of companies listed in Hong Kong has increased, and the market value of the Top 10 companies accounts for 79.5% of the total market value.

This site learned from the document that the report also revealed the data for the first quarter of 2024:

1. In terms of revenue, The revenue of China’s listed Internet companies in Q1 of 2024 reached 1.177 trillion yuan, with a growth rate of 11% ;
2. Globally, the revenue growth rate of the Top 10 companies rose to 14.2%, and the growth rate of Chinese companies was lower than that of the United States.

   

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