China's internet firms collect income of $222.57 billion in Jan-Nov 2021

[03-01-2022 11:32 AM]

Ammon News - China’s internet and related service enterprises completed business income of 1,415.5 billion yuan ($222.57 billion) from January to November in 2021, an increase of 22.3 percent year-on-year, serving as a key driver to shore up the country's economic growth.

According to the Chinese Ministry of Industry and Information Technology (MIIT), 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 128 billion yuan in profits, a 14.8-percent increase from the same period a year ago, MIIT data showed.

Spending on research and development in major internet and related service companies rose 5.6 percent year-on-year to 67.01 billion yuan in the first 11 months. The growth rate went up by 3 percentage points from that registered in the first 10 months of the same year.

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