The China Internet Network Information Centre (“CNNIC”) published the 41st Statistical Report on China’s Internet Development (“Report”) on 31 January 2018.

According to the Report, up to December 2017, China has 772 million Internet users. The Internet penetration rate reached 55.8%, exceeding 4.1 percent of the global average rate and 9.1 percent of the Asian average rate. The number of mobile Internet users in China reached 753 million. Mobile netizens accounted for 97.5% of the total netizen population, which means the mobile phone has become the center and basis of the Internet of Things.

The number of Internet companies listed in the PRC and overseas reached 102, with an overall market capitalisation of 8.97 trillion RMB. The total market value of Tencent, Alibaba and Baidu accounts for 73.9% of the total market capitalization. 77 “Network Information Unicorn” companies have been established, with most located in Beijing and Shanghai. These companies are defined as companies that exceed 1 billion US dollar in valuation during their latest financing.

Please click here to read the full text (Chinese only) of the Report.