China's top 100 internet companies post trillion-yuan revenue in 2016

Official data shows that the income of China's top 100 internet companies rose 47-percent year-on-year in 2016, marking the first time the total has surpassed one trillion yuan.

Tech giants Tencent, Alibaba, Baidu took the top three spots among the 100 companies.

A report suggested the three heavyweights have been on the list as top three for five consecutive years.

Tencent and Alibaba together accumulated 28 percent of the top 100's total revenue and 73-percent of profits.

The report adds that the top 100 companies have been investing heavily in research and development in areas such as AI, big data, cloud computing and the internet of things.