(MENAFN) Official figures demonstrated that, internet and connected domains of China have recorded double-digit expansion in business proceeds during the January-October period of the year.
The Ministry of Industry and Information Technology (MIIT) stated that, key internet firms gained 1.01 trillion yuan (around USD154.18 billion) during the first 10 months, a rise by 13.1 percent annually.
The operating income of the sector, in the stated period, increased by 8.8 percent annually reaching about USD15 billion, while the domain’s spending on study and improvement reached about USD9,4 billion, 15.6 percent higher than a year earlier.
With China experiencing an expansion shift, led by more by technology and consumption, the internet domain has turned into a major part of the country’s “new economy”.
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