China’s major internet companies and related services companies saw notable profit increased in the first four months of the year,
According to the data released by China’s Ministry of Industry and Information Technology (IT) on Sunday, “Profits of these companies surged 62.1 percent year on year to 38.4 billion yuan (about 5.4 billion U.S. dollars) during the period,” China Daily reported.
The combined business revenue of these companies stood at 408.3 billion yuan, up 3.3 percent year on year.
“Major internet companies and related services companies are those with an annual business revenue of at least 20 million yuan,” it added.—APP
