A worker makes a phone call beside an emblem of Tencent QQ instant messaging service, in the headquarters office of the Tencent Holdings Limited in Shenzhen. (Photo : Getty Images)
Chinese tech giants Tencent Holdings Ltd and Alibaba Group Holding Ltd led other Chinese listed Internet companies as the biggest, with more than 50 percent of the market share, according to the report by China Internet Network Information Center (CNNIC), the country's online industry administrator.
Citing the data published by the CNNIC on Sunday, Jan. 22, ECNS reported that there are now a total of 91 listed Chinese Internet companies, which are worth more than 5.4 trillion yuan ($785.3 billion).
The highest market share came from Chinese Internet companies listed in the U.S. which account for about 55.7 percent, while companies from Hong Kong got 29.7 percent share, and Shenzhen and Shanghai bourses made up 14.6 percent.
But it was not only Tencent and Alibaba that took the large percentage of market share. The two firms' main platforms, which include WeChat, QQ and Taobao, were also chosen as the most popular APPs among Chinese consumers and Internet users.
According to the report, most Chinese online mobile users used instant messaging as the most popular type of mobile app, with WeChat leading as the most popular app, followed by QQ. Alibaba's Taobao, took third place as an online shopping app while Baidu was hailed as the dominant search engine, and Alipay, Alibaba'smobile wallet, came next in popularity.
The country's Internet market is facing both challenges and opportunities now, according to Hao Liyang, CNNIC analyst.
Hao added that the rate of increase in Internet users has saturated the market while Chinese Internet development is getting into a 'maturity phase' and gaining users from the large population is driving some companies out. He added that netizens are increasing rapidly in other countries and more developing countries are breaking out.
"The development of China's Internet industry still needs to find a breaking point in order to grasp the opportunity of globalization," Hao added.
