Photo taken on July 3, 2020 shows the view of the R&D center of Alibaba in Shanghai. (Xinhua/Fang Zhe)
BEIJING, Sept. 3 (Xinhua) – The combined business revenue of China's internet enterprises above designated scale amounted to 886.9 billion yuan, increasing by 26.3 percent year on year in the first seven months of the year, 0.7 percentage point higher than the growth rate from January to June, data from the Ministry of Industry and Information Technology (MIIT) showed recently.
During the period, the operating profits of the enterprises stood at 84.29 billion yuan, up 28 percent compared with the same period last year, with the growth rate 0.6 percentage point higher than that in January-June.
Meanwhile, the relevant enterprises spent 40.79 billion yuan on research and development from January to July period, up 12.9 percent year on year and 3 percentage points higher than the same period last year.
(Edited by Tian Shenyoujia with Xinhua Silk Road, tianshenyoga0524@163.com)
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