Chinese Internet firms log $223 bn in revenue in Jan-Nov 2021


Beijing, Jan 3 (IANS): China's internet sector registered robust growth in business revenue and profits in the first 11 months of 2021, serving as a key driver to shore up the country's economic growth.

The business revenue of major internet and related service companies in the country amounted to about 1.42 trillion yuan (about $222.7 billion) during the period, surging 22.3 percent from a year ago, data from the Ministry of Industry and Information Technology (MIIT) showed.

Specifically, revenue from information services maintained rapid growth, thanks to the strong performance of audio and video service providers, online gaming firms, and news platforms, reports Xinhua news agency.

From January to November, major internet and related service companies raked in a total of 128 billion yuan in profits, a 14.8-percent increase from the same period a year ago, MIIT data showed.

Spending on research and development in major internet and related service companies rose 5.6 percent year on year to 67.01 billion yuan in the first 11 months. The growth rate went up by 3 percentage points from that registered in the first 10 months.

MIIT statistics cover enterprises with annual revenue from internet services of above 5 million yuan in the previous year.

 

  

Top Stories


Leave a Comment

Title: Chinese Internet firms log $223 bn in revenue in Jan-Nov 2021



You have 2000 characters left.

Disclaimer:

Please write your correct name and email address. Kindly do not post any personal, abusive, defamatory, infringing, obscene, indecent, discriminatory or unlawful or similar comments. Daijiworld.com will not be responsible for any defamatory message posted under this article.

Please note that sending false messages to insult, defame, intimidate, mislead or deceive people or to intentionally cause public disorder is punishable under law. It is obligatory on Daijiworld to provide the IP address and other details of senders of such comments, to the authority concerned upon request.

Hence, sending offensive comments using daijiworld will be purely at your own risk, and in no way will Daijiworld.com be held responsible.