[Tech]
China's major internet enterprises log steady profit growth
by Shine
November 4, 2023[Tech]
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China's major internet companies reported steady profit growth in the first three quarters of the year, data from the Ministry of Industry and Information Technology (MIIT) showed.
The companies raked in 95.93 billion yuan (about 13.36 billion U.S. dollars) in profits during the period, surging by 18.2 percent year on year, the MIIT data showed.
Revenues of these companies increased by 3.4 percent year on year to reach 1.03 trillion yuan, according to the ministry.
Major internet companies and related services companies are those with an annual business revenue of at least 20 million yuan.
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