China's internet sector reports steady revenue growth in first 5 months
The business revenue of major internet and related service enterprises came in at 585 billion yuan ($87.49 billion) in the January-May period, up 1.8 percent year-on-year
The business revenue of major internet and related service enterprises came in at 585 billion yuan ($87.49 billion) in the January-May period, up 1.8 percent year-on-year, the ministry said.
The growth rate slowed down from a 2.7-percent increase registered in the first four months.
From January to May, these companies saw their total profits fall 14.8 percent year-on-year to 49.52 billion yuan, narrowing from a 25.4-percent decline logged in the first four months.
Research and development expenditure of these companies increased steadily from January to May, up 9.1 percent year-on-year.
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