Business income growth of China's internet companies rebounds in Jan.-April
The business income of China's major internet and related services companies rose by 4.9 percent during the January-April period to 344.6 billion yuan (48.3 billion U.S. dollars), reversing the decline from the January-March period, data from the Ministry of Industry and Information Technology showed.
The growth from the first four months is 3.4 percentage points higher than the January-March period, but is still 15.3 percentage points lower than the same period last year, as recovery in the sector has been affected by the novel coronavirus epidemic.
The internet industry achieved a total of 32.73 billion yuan in operating profit, an increase of 4.8 percent year on year, reversing the decline from the January-March period, -24.9 percent.
The growth in R&D investment also rebounded. The total R&D expenses during the period rose by 5.3 percent to 17.27 billion yuan, 5.3 percentage points higher than the January to March period.
In addition, the revenues of software companies totaled 2.08 trillion yuan (about 293 billion U.S. dollars) from January to April, down by 0.1 percent year on year, official data showed.
Profits of software companies stood at 239.8 billion yuan down by 2.3 percent year on year, compared to a 13.1-percent decrease in the first quarter, showing a gradual recovery.
Dragged by the pandemic overseas, software exports remained sluggish during the January-April period, down by 13.5 percent year on year.