China’s Internet sector sees steady growth in early 2024

Beijing (MidLand) – China’s Internet sector recorded steady growth in terms of corporate revenues and profits in the first two months of this year, data from China’s Ministry of Industry and Information Technology shows.

According to That data, large Internet companies and related service companies recorded a 7.6% increase in overall revenue year-on-year (y-o-y) to a total of 246.3 billion yuan (1 yuan = Rp 2,193) in January and February.

Their cumulative profit reached 16.97 billion yuan, up 6.5% (year-on-year).

Large Internet companies and related service companies refer to companies that have an annual turnover of at least 20 million yuan.

Journalist: Xinhua
Publisher: Maria Rosari Dwi Putri
Copyright © MidLand 2024

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