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China’s Internet firms log fast growth from January to November

BEIJING (XINHUA) – 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 CY1.42 trillion (about USD 222.7 billion) during the period, surging 22.3 per cent 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.

From January to November, major internet and related service companies raked in a total of CY128 billion in profits, a 14.8-per-cent increase from the same period a year ago, MIIT data showed.