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China's major internet firms post robust revenue, profit growth

Jun 3, 2021

Source: http://www.chinadaily.com.cn/a/202106/03/WS60b87422a31024ad0bac3689.html

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Visitors check their phones behind the screen advertising facial recognition software during Global Mobile Internet Conference at the National Convention in Beijing, on April 27, 2018. [Photo/Agencies]

BEIJING - China's major internet companies reported double-digit growth in business revenues and profits in the first four months of the year, official data shows.

The business revenues of major internet companies totaled 467.6 billion yuan ($73.28 billion) in the January-April period, up 27.8 percent year-on-year, according to the Ministry of Industry and Information Technology (MIIT).

The companies raked in 44.51 billion yuan in operating profits, climbing 27 percent from the same period a year earlier.

Spending on research and development in major internet companies maintained rapid growth during the period, up 19.3 percent year-on-year. The growth rate was 14 percentage points higher than the 2020 level.

Original Text (This is the original text for your reference.)

BEIJING - China's major internet companies reported double-digit growth in business revenues and profits in the first four months of the year, official data shows.

The companies raked in 44.51 billion yuan in operating profits, climbing 27 percent from the same period a year earlier.

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