BEIJING, Jan. 1 (Xinhua) -- China's major internet firms reported robust expansion in both revenue and profit in the first 11 months of 2019, official data showed.
Major internet companies raked in 1.09 trillion yuan (about 155.51 billion U.S. dollars) in revenues in the Jan.-Nov. period, up 22.4 percent year on year, according to the Ministry of Industry and Information Technology.
Profits stood at 103.1 billion yuan, also up 22.4 percent from a year earlier.
Major internet companies refer to those with annual internet and related services revenues of over 5 million yuan.
Data also showed that R&D investment in the sector rose 12.8 percent year on year to 43 billion yuan in the period.
Major internet companies raked in 1.09 trillion yuan (about 155.51 billion U.S. dollars) in revenues in the Jan.-Nov. period, up 22.4 percent year on year, according to the Ministry of Industry and Information Technology.
Profits stood at 103.1 billion yuan, also up 22.4 percent from a year earlier.
Major internet companies refer to those with annual internet and related services revenues of over 5 million yuan.
Data also showed that R&D investment in the sector rose 12.8 percent year on year to 43 billion yuan in the period.
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