BEIJING, Jan. 1 (Xinhua) -- China's major internet firms reported robust expansion in both revenue and profit in the first 11 months of 2019, official data showed.

File photo: VCG

Major internet companies raked in 1.09 trillion yuan (about 155.51 billion U.S. dollars) in revenues in the Jan.-Nov. period, up 22.4 percent year on year, according to the Ministry of Industry and Information Technology.
Profits stood at 103.1 billion yuan, also up 22.4 percent from a year earlier.
Major internet companies refer to those with annual internet and related services revenues of over 5 million yuan.
Data also showed that R&D investment in the sector rose 12.8 percent year on year to 43 billion yuan in the period.