Chinese Web Companies' Revenue Rise 30% to USD59 Billion in First Seven Months

Chinese Web Companies' Revenue Rise 30% to USD59 Billion in First Seven Months

Zhang Xia

Date: Fri, 09/08/2017 - 14:04 / source:Yicai
Chinese Web Companies' Revenue Rise 30% to USD59 Billion in First Seven Months
Chinese Web Companies' Revenue Rise 30% to USD59 Billion in First Seven Months

(Yicai Global) Sept. 8 -- Revenue at major Chinese internet companies and relevant service firms grew 29 percent from the year before to USD59 billion (CNY385 billion) in the first seven months.

Revenue from internet business was up substantially from January to July, data from the Ministry of Industry and Information Technology show.

Earnings from information services rose 44 percent annually to CNY351 billion, accounting for 91 percent of these companies' total revenue.The take from online games, including client-end, mobile and web page games, reached CNY81.5 billion, up 29 percent per year.

E-commerce platforms generated CNY125 billion in revenue, a rise of 37 percent from last year. The e-commerce market was generally stable, with the many leading e-commerce players in Beijing, Guangdong and Shanghai pocketing nearly 80 percent of total revenue from e-commerce platforms.

China's mobile app market remained active. Nearly 4 million mobile apps swarmed in China as of the end of July, including 1.11 million game apps and more than 521,000 life service apps, which ranked second by number. E-commerce apps came in third with 423,000.

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Keywords: internet company, E-COMMERCE