China’s Internet Service Firms Achieved Double-Digit Revenue Growth in First Four Months of Year

China’s Internet Service Firms Achieved Double-Digit Revenue Growth in First Four Months of Year

Liao Shumin

Date: Wed, 06/06/2018 - 15:19 / source:Yicai
China’s Internet Service Firms Achieved Double-Digit Revenue Growth in First Four Months of Year
China’s Internet Service Firms Achieved Double-Digit Revenue Growth in First Four Months of Year

(Yicai Global) June 5 -- The earnings of internet and related services providers maintained double-digit growth with operating profits growing at the same pace in the first four months of this year, showed data released by China’s ministry of industry and information technology today.

From January to April, internet and related service enterprises above designated size, which refers to the companies with revenue of more than CNY3 million (USD468.000) in the previous year, achieved revenue of almost CNY265 billion, a year-on-year increase of nearly 25 percent, data showed.

The revenue of information services reached CNY234.7 billion in the same period, an annual increase of 23.8 percent, accounting for nearly 89 percent of the total internet business revenue, showed data published by the performance inspection and coordination bureau of the ministry.

The revenue of internet data center services hit CNY3.56 billion, up 5.8 percent annually. The revenue from internet access services amounted to CNY7.27 billion, down nearly 27 percent year-on-year.

Online games and e-commerce also remained active. Among information services, the revenue from online gaming, including client games, mobile games and web games, was CNY58.7 billion, up about 28 percent annually. The revenue of e-commerce platforms hit CNY92.3 billion, an annual increase of over 40 percent.

In terms of regional operations, Shanghai, the southeastern Guangdong province, and Beijing achieved the highest jump in revenues from internet services.

Editor: Mevlut Katik

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Keywords: Internet Service Provider, Online Company, Enterprise, Revenue, Growth