BEIJING, Dec.29 (Xinhua) -- Revenues of China’s Internet industry have increased by more than 40 percent in 2016, said Miao Yu, minister of the Ministry of Industry and Information Technology.
The country’s industrial added value is estimated to expand 6.2 percent year on year for the whole year, according to Miao. The total business volume and revenue of the telecommunication sector is expected to increase 53 percent and 5.1 percent, respectively, and the revenue of the software and information technology services sector will rise 15 percent in 2016.
The rapid growth in the revenue of China’s Internet industry is attributable to the stunning expansion of mobile Internet business in recent years on the one hand. On the other hand, Internet enterprises, especially platform enterprises, are more immune to macroeconomic fluctuations since they normally operate based on an asset-light mode, noted Wei Liurong, an official with the China Academy of Information and Communications Technology (CAICT). He added that the fast development of China’s Internet industry also depends on accelerated construction of Internet infrastructure.
According to Miao, China’s telecommunication industry will complete investment exceeding 430 billion yuan (about 61.65 billion U.S. dollars) in 2016. Optical networks will cover all cities in the country, with optical fiber broadband users accounting for 72 percent of the total Internet users, and the number of 4G subscribers exceeding 700 million. Enditem (Edited by Ma Xin, maxin11@xinhua.org)
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