China's large internet companies and related services companies saw their profits expand robustly in the first quarter of the year, data from the Ministry of Industry and Information Technology (MIIT) showed. This was reported by The Xinhua News Agency.
Profits of these companies surged 55.2% year on year to ¥28.28 bln (about $4.08 bln) during the period, MIIT data showed.
The combined business revenue of these companies stood at ¥302 bln, up 1.6% year on year.
Large internet companies and related services companies are those with an annual business revenue of at least ¥20 mln.
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