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China's Major Internet Firms Log Steady Revenue Growth in H1

Jul 31, 2024, 6:21 a.m. ET

AsianFin--China's internet sector saw steady growth in business revenue in the first half of this year, data from the Ministry of Industry and Information Technology showed.

In the first six months, China's major internet companies and related services companies generated 867.6 billion yuan (about US$121.6 billion) in business revenue, an increase of 5.6% year on year. This growth rate was 0.6 percentage points higher than that registered in the first five months.

Specifically, business revenue of firms mainly providing information services soared 9.5% compared to one year earlier -- a pace 5 percentage points faster than the January-May period.

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