Alibaba has become China's most valuable e-commerce company, with its market value hitting 4.1 trillion yuan ($585.1 billion) by June 30, according to ranking agency Hurun's latest report released on July 10.

Domestic retail sales by Alibaba, JD and Pinduoduo reached 6.6 trillion yuan, 2 trillion yuan and 1 trillion yuan, respectively, with the three online shopping platforms' total retail sales accounting for 90 percent of China's online retail sales, and 22 percent of China's total retail sales of consumer goods last year, Hurun's report said.

Let's see the top 10 most valuable e-commerce companies.

No 10 Missfresh 

Valuation: 21 billion yuan

No 9 CARS
Valuation: 60 billion yuan

No 8 Suning.com
Market value: 82 billion yuan

No 7 Vipshop 
Market value: 95 billion yuan

No 6 Ctrip
Market value: 109 billion yuan

No 5 Didi Chuxing
Valuation: 360 billion yuan

No 4 Pinduoduo
Market value: 728 billion yuan

No 3 JD
Market value: 749 billion yuan

No 2 Meituan Dianping
Market value: 919 billion yuan

No 1 Alibaba
Market value: 4.11 trillion yuan