BEIJING, Sept. 3 (Xinhua) — China’s major internet companies posted a notable increase in profits in the first seven months of the year, according to the Ministry of Industry and Information Technology.
Data showed that major companies in the sector posted profits of 79.93 billion yuan (about $11.13 billion) in the first seven months of the year, up 29.1 percent year-on-year.
The growth rate was 1.5 percentage points higher than in the first half of the year.
The combined business revenue of these companies reached 766.6 billion yuan, up 2.8 percent year-on-year.
The leading Internet companies and related service companies in China are those with annual sales of at least 20 million yuan.