In the ten years from 2010 to 2020, the top 20 listed companies in China by market capitalization, whether in terms of industry distribution or overall size, have undergone drastic changes.

Ten years ago, the top 20 companies by market capitalization in China were mainly concentrated on financial stocks such as banks and insurance, and petroleum stocks such as CNPC. China Petroleum ranked first in market capitalization, with a market capitalization of 1999.2 billion yuan.

The two to five rankings were Industrial and Commercial Bank, China Construction Bank, China Mobile, and Bank of China. Tencent Holdings, the only internet company, ranked 16th.

By the end of 2020, most of the companies on the list were companies in the Internet and technology industries.

Tencent Holdings topped the market capitalization list with 4553 billion yuan, and Alibaba ranked second with 42015 billion yuan. TSMC, Kweichow Moutai, and Industrial and Commercial Bank ranked three to five, respectively.

Ten years ago, only one Internet stock was on the list; now the top 20 Internet companies are on the list. There are six companies on the list, including Tencent, Alibaba, Meituan, Pinduoduo, JD, and Xiaomi.

Meanwhile, Ningde Era, which represents new energy, is on the list with a market capitalization of 817.9 billion yuan, ranking 17th.