Sunday, 05 July 2020

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China's profits during the months of the Corona crisis The sector's spending on research and development increased to nearly 17.3 billion yuan

China's profits during the months of the Corona crisis

Egyptian News Vision // China's Internet sector and related service sectors have kept rising during the four months of the Corona Virus crisis, according to the Ministry of Industry and Information Technology.

China's largest Internet company generated 344.6 billion yuan (about 48.32 billion US dollars) in revenue from January to April 2020, up 4.9 percent year on year.

During that period, the industry's operating profit rose by 4.8 percent year on year to 32.7 billion yuan.

The sector's spending on research and development increased to nearly 17.3 billion yuan, an increase of 5.3 percent compared to the same period in 2019.

Statistics of the Ministry of Industry and Information Technology cover companies whose annual Internet service revenue exceeded three million yuan in the previous year.

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