Chinese Internet Companies Maintained Rapid Growth in the First Three Quarters
In the first three quarters of this year, China's Internet and related services have maintained a steady development momentum, with business revenue and total profits growing steadily. Among them, the completed business revenue reached 895.6 billion yuan, up 13.7% year on year, and the operating profit of the industry reached 86.74 billion yuan, up 13.6% year on year, 10.8 percentage points higher than that of the first half of the year. In the first three quarters of this year, the R&D expenditure of the industry reached 49.74 billion yuan, up 11.2% year on year and 0.5 percentage points higher than that of the first half of the year. In terms of business, the growth rate of information services revenue continues to fall slightly, and the growth of online games and audio and video services gradually becomes normal. In the first three quarters of this year, Internet companies completed a total of 527.8 billion yuan in information services, including online music and video, online games, news and information, up 12.8 percent year-on-year. Among them, the business income of online game and audio and video service enterprises gradually fell from the high-speed growth to the normal growth step by step. Internet platform service revenue growth leads the industry, online education, online sales, production and service platforms continue to improve. In the first three quarters, Internet platform service enterprises realized business revenue of 282.9 billion yuan, up 16.9% year on year and 3.3 percentage points higher than that in the first half of the year. Among them, the enterprises mainly providing online education services continued to grow at a high speed, the business income growth rate of the platform enterprises mainly providing life services gradually recovered, and the income growth rate of the enterprises mainly providing manufacturing and production logistics platform services greatly increased compared with the first half of the year. In addition, in the first three quarters of the year, Internet companies completed Internet access and related services revenue of 27.21 billion yuan, a year-on-year growth of 3.2%. Revenue from Internet data services reached 13.79 billion yuan, up 15.5 percent year-on-year and 1.2 percentage points higher than that in the first half of the year.