CHINA China's internet sector sees slight revenue growth in H1

CHINA

China's internet sector sees slight revenue growth in H1

Xinhua

19:39, July 27, 2022

Visitors learn about a smart city governance system during the China International Big Data Industry Expo 2021 in Guiyang, southwest China's Guizhou Province, May 26, 2021. (File photo: Xinhua)

BEIJING, July 27 (Xinhua) -- China's internet companies reported slight growth in business revenue in the first half of this year, data from the Ministry of Industry and Information Technology showed Wednesday.

From January to June, the business revenue of major internet and related services firms came in at 717 billion yuan (about 105.86 billion U.S. dollars), up 0.1 percent year on year, the ministry said.

The operating costs of these internet companies rose 5.4 percent from a year earlier.

The sector's profits stood at 64.54 billion yuan in the first half, down by 6.2 percent year on year, and the decline narrowed by 8.6 percentage points from that for the first five months.

During the same period, the internet sector's spending on research and development increased 6.4 percent year on year to 38.87 billion yuan.

Terms of Service & Privacy Policy

We have updated our privacy policy to comply with the latest laws and regulations. The updated policy explains the mechanism of how we collect and treat your personal data. You can learn more about the rights you have by reading our terms of service. Please read them carefully. By clicking AGREE, you indicate that you have read and agreed to our privacy policies

Agree and continue