Six Shenzhen companies, including Tencent, Montnets, Lexin, Xunlei, Fangdd.com and iDreamSky, have entered the list of China’s Top 100 Internet Companies in 2020, according to a report released by the Internet Society of China.
E-commerce giant Alibaba was crowned China’s top Internet company this year, followed by Tencent, Meituan Baidu, JD.com, Netease, Pinduoduo, Didi and ByteDance.
Song Mao’en, deputy secretary general of the society, said the overall revenue of China’s top 100 Internet companies reached a record high this year, with Internet business income reaching 3.5 trillion yuan (US$523 billion), up 28.2 percent over the previous year.
The total operating profits of the Internet industry amounted to 317.49 billion yuan in 2020, Song said.
The Internet industry will show more development trends as China’s digital economy further develops, according to Song. For instance, new infrastructure will become a driving force for high-quality economic development and continuously stimulate consumption potential.
Tencent, which ranks second on the list, is undoubtedly the leader in new infrastructure.
Cloud computing, artificial intelligence, blockchain, servers, large-scale data centers, supercomputing centers, Internet of Things operating systems, 5G network, audio and video communications, cybersecurity and quantum computing are currently the key investment fields of Tencent.
Montnets, which takes 51st place on the lis, currently operates one of the largest cloud communications platforms for enterprises in China.