Chinese internet firms have seen a sizeable acceleration in revenue growth for the first four months of 2018, with online gaming and e-commerce performing especially well.
Major internet businesses and associated revenue providers saw revenue of 264.9 billion yuan (approx. USD$41.4 billion) across the January – April period, for a year-on-year surge of 24.9%,
This growth rate is 5.4 percentage points ahead of the same period last year according to China’s Ministry of Industry and Information Technology.
Online gaming revenue hit 58.7 billion yuan in the first four months of 2018, for a YoY surge of 27.9%, while e-commerce platforms saw revenues rise by 40.4% to 92.3 billion yuan.
Investment by China’s internet sector saw 14.5 billion yuan of R&D investment in the first four months of 2018, for a YoY rise of 22.3%.