E-commerce giant Alibaba tops list of China's top 100 web companies

The e-commerce giant Alibaba Group has topped a list of China's top 100 Internet companies, followed by social networking giants Tencent and Baidu, The Paper reported on Wednesday.

The Beijing headquarters of the e-commerce giant Alibaba Group on July 25, 2019. [File Photo: IC]

The top 100 list was released by the China Internet Association and the Ministry of Industry and Information Technology on Wednesday. The companies were ranked according to criteria including the scale of the enterprise, and their innovation capacity, future prospects, and compliance.

The list of China's top 100 Internet companies is thought to be the most authoritative and influential in this field. This year's list covers fields including e-commerce, industry services, online game, and streaming video.

According to the report, the overall research and development spending of these 100 major companies has increased, reaching 153.87 billion yuan (21.86 billion U.S. dollars) in 2018, an increase of 45.1 percent on the previous year.

The report also says that when it comes to core technologies, the 100 companies have contributed thanks to their innovations in 5G technology, artificial intelligence, cloud computing, and big data. The companies have collectively acquired about 80,000 patents, including nearly 60,000 invention patents.