Without exaggeration, today's society is driven by technology and the internet, as technology is the primary productive force, and the internet serves as the foundation for informatization and digitization.

A glance at the global corporate market capitalization rankings reveals that leading companies such as Apple, Microsoft, NVIDIA, Google, and Facebook are all technology/internet firms.

Similarly, in China, the highest market capitalization belongs to internet companies, not liquor giants like Moutai or banks and real estate developers.

Regarding the ranking of Chinese internet companies, based on the current capital market situation, the top eight Chinese internet companies by market capitalization as of the morning of October 8th are listed below.

As shown in the following figure, Tencent tops the list with a market capitalization of $527 billion, truly leading the pack without domestic competition.

Following Tencent is Alibaba, which once rivaled Tencent in market capitalization but now lags far behind at only half Tencent's value, approximately $273.5 billion. The reasons for this decline are numerous and complex.

In third place is Pinduoduo, which briefly surpassed Alibaba but, in terms of genuine strength, still lags behind.

Rounding out the top eight are Meituan, Xiaomi, JD.com, NetEase, and Baidu. NetEase, once one of China's four leading internet portals, has since transitioned into gaming and is now the country's second-largest gaming company, trailing only Tencent. While not on par with Tencent, Alibaba, or Pinduoduo, NetEase has maintained a steady performance.

Xiaomi, a rising internet giant, is currently somewhat undervalued in terms of market capitalization. Its foray into the automotive industry, particularly with the popular SU7 SUV, has garnered significant attention. Should Xiaomi continue this success with future SUV models, its market capitalization stands to increase significantly. What do you think?

Despite the common perception that internet companies pale in comparison to chipmakers and other tangible industries, internet firms are, in fact, bellwethers of technological advancement, as previously mentioned. Thus, the thriving of China's internet industry is indicative of a booming technology sector, as technologies like 5G, AI, and big data are inherently intertwined with the internet.