A visitor tries VR (Virtual Reality) glasses during the 2020 Global Industrial Internet Conference in Shenyang, capital of northeast China's Liaoning Province, Oct. 18, 2020. (Xinhua/Long Lei)
BEIJING, Aug. 9 (Xinhua) -- China's internet companies reported substantial growth in business revenue in the first half of the year, the Xinhua-run Shanghai Securities News reported on Saturday.
Data from the Ministry of Industry and Information Technology (MIIT) showed that business revenue of China's internet companies above designated size amounted to 695.1 billion yuan in the first half of this year, up 25.6 percent from the same period of last year .
According to the MIIT, the companies achieved operating profits of 65.86 billion yuan during the January-June period, up 27.4 percent year on year.
In addition, internet companies above designated size saw their research and development expenses maintain rapid growth during the period, as they spent a total of 34.63 billion yuan on research and development , an increase of 13.9 percent year on year. (Edited by Yang Yifan with Xinhua Silk Road, yangyifan@xinhua.org)
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