Internet enterprises in China saw a sizeable rise in their revenues for the first five months of 2019.
The latest data from the Ministry of Industry and Information Technology (MIIT) indicates that the revenues of internet and related services enterprises above designated size for the period from January to May was 428.2 billion yuan, for a YoY increase of 19.4% and an acceleration of 2 percentage points compared to the first quarter.
Full sector R&D spending for the period was 18.12 billion yuan, for a YoY rise of 15.6%.
Information services revenues, including online music and video, online gaming, news and online content, were 297.8 billion yuan for the first five months of 2019, for a YoY rise of 21%, and an acceleration of 3.8 percentage points compared to the first quarter.
Information services accounted for a 69.5% share of all internet enterprise revenues for the first five months of 2019.