emirates7 - China's internet industry experienced steady revenue growth in the first half of the year, according to figures released by the Ministry of Industry and Information Technology.
From January to June, leading internet and related service firms generated a total revenue of 961.3 billion yuan (approximately US$133.3 billion), marking a 3.1% increase compared to the same period last year. This growth rate was 2.2 percentage points higher than that recorded in the first five months.
However, total profits for these major companies dropped by 8.3% year-on-year, amounting to 74.32 billion yuan.
The data also showed that research and development (R&D) investment by these firms rose slightly, reaching 48.56 billion yuan during the six-month period — a year-on-year increase of 2.6%.
These "major" companies are defined as those with annual business revenues of at least 20 million yuan.
From January to June, leading internet and related service firms generated a total revenue of 961.3 billion yuan (approximately US$133.3 billion), marking a 3.1% increase compared to the same period last year. This growth rate was 2.2 percentage points higher than that recorded in the first five months.
However, total profits for these major companies dropped by 8.3% year-on-year, amounting to 74.32 billion yuan.
The data also showed that research and development (R&D) investment by these firms rose slightly, reaching 48.56 billion yuan during the six-month period — a year-on-year increase of 2.6%.
These "major" companies are defined as those with annual business revenues of at least 20 million yuan.