According to closing prices on Jan. 15, 2021, the market value of listed Chinese technology companies totaled 49 trillion yuan, reaching a record high, according to data from Shujubao, a financial information provider run by the Securities Times.

Shenzhen outranked every city on the Chinese mainland, with its listed technology companies totaling a value of more than 10 trillion yuan.

Beijing came second, with a combined market value of 8.48 trillion yuan for its listed tech companies. Meanwhile, Hangzhou ranked third with a total market value of 6.67 trillion yuan.

The combined market value of listed tech companies in Shanghai, which ranked fourth, jumped by 145% compared with the end of 2019, as companies like e-commerce player Pinduoduo and electric vehicle maker NIO, among others, saw sharp increases in their share prices over the past year.

Notably, Ningde in east China' Fujian province came seventh, partly thanks to the soaring stocks of Contemporary Amperex Technology Co., Ltd. (CATL) in 2020. CATL is China's largest automotive lithium-ion battery maker, supplying Tesla and Volkswagen.

Shujubao explained that they compiled the list by tracking Chinese companies listed on the Shanghai, Shenzhen, Hong Kong, and US stock exchanges that are engaged in information technology, health care, and internet and catalog retail, based on industry classifications made by Wind, a financial data provider.

A list of the top 10 Chinese cities ranked by the total market value of their listed tech companies:

10. Changsha, Hunan province

Total market value of its listed tech companies: 650.16 billion yuan