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China's major Internet companies report steady revenue growth

2019-August-4       Source:

China's major Internet firms reported steady expansion in both revenue and R&D investment in the first half of the year, official data showed.

A logo of China's Internet giant Tencent (Xinhua)

极速赛车双面盘China's major Internet firms reported steady expansion in both revenue and R&D investment in the first half of the year, official data showed.

Companies boasting annual Internet and related services revenue of over 5 million yuan raked in 540.9 billion yuan (78.4 billion U.S. dollars) in H1, up 17.9 percent year on year, according to the Ministry of Industry and Information Technology (MIIT).

The pace picked up 0.6 percentage points from the first quarter, the MIIT said.

R&D investment in the sector registered a large jump by rising 29。4 percent year on year to 23 billion yuan in the period。

Revenues of information services, making up 68。5 percent of the Internet business revenue as the biggest contributor, surged 23 percent to 370。3 billion yuan during the period。

Guangdong, Shanghai and Beijing saw their Internet business revenues up 11.7 percent, 25.6 percent and 19.1 percent respectively year on year in H1.

Editor: Monica Liu

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