ZCZC
BCN-24
CHINA-INTERNET-BUSINESS
China’s Internet businesses post faster revenue growth
BEIJING, June 10, 2018 (BSS/Xinhua) – China’s Internet businesses posted
faster revenue growth in the first four months of the year, official data
showed.
Major Internet businesses and related service providers saw revenue surge
24.9 percent year-on-year to 264.9 billion yuan (about 41.4 billion U.S.
dollars) in the January-April period, according to the Ministry of Industry
and Information Technology.
The growth was 5.4 percentage points faster than the same period last
year, the ministry said.
Online gaming and e-commerce maintained brisk expansion, with online
gaming revenue up 27.9 percent year-on-year to reach 58.7 billion yuan.
Income of e-commerce platforms jumped 40.4 percent to 92.3 billion yuan.
During the period, the Internet industry invested 14.5 billion yuan into
research and development, up 22.3 percent year on year, according to the
ministry.
The Internet sector has become a key part of China’s “new economy” as the
country undergoes a shift to growth driven more by technology and
consumption.
BSS/XINHUA/HR/1425