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China's major internet firms see robust growth in Jan.-Oct.

3 December 2023 19:35 (UTC+04:00)
China's major internet firms see robust growth in Jan.-Oct.

China's internet sector registered robust growth in business revenue and profits in the first 10 months this year, according to data from the Ministry of Industry and Information Technology, Azernews reports, citing Xinhua.

Major internet companies saw their cumulative profits rise 10 percent year on year to total 107.4 billion yuan (about 15.1 billion U.S. dollars) during the period, the data shows.

Their combined business revenues came in at 1.4 trillion yuan, up 5.9 percent year on year.

Enterprises that mainly offer online sales services saw their internet business revenues increase 33.5 percent from a year earlier.

Major internet companies and related services companies have annual business revenues of at least 20 million yuan.

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