Internet economy driving IT sector's wealth

The booming internet economy is playing an increasingly important role in supporting wealth growth in China's IT industry, according to a report released on Tuesday.

According to the annual Hurun IT Rich List, the average wealth of the top 50 Chinese IT tycoons hit a record, surging 13 percent year-on-year to 26.9 billion yuan ($4 billion).

Jack Ma, founder and executive chairman of e-commerce giant Alibaba Group Holding Ltd topped the ranking of China's richest IT people for the third consecutive year, defending his position against rivals including Tencent Holdings Ltd founder Pony Ma.