Chinese Internet Companies Raises $35Bn In Two Months

The total revenue of large Chinese Internet companies andcompanies providing related services amounted to 246.3 billion yuan(about $34.71 billion) in January-February, with an increase of7.6% year-on-year, Azernews reports, citingforeign media outlets.

This is evidenced by data from the Ministry of Industry andInformation Technology of the People's Republic of China, posted onthe agency's website.

The total profit amounted to 16.97 billion yuan (approximately$2.4 billion), which is 6.5% more compared to the same period lastyear.

The largest Internet companies and companies providing relatedservices are among those whose annual business income is at least20 million yuan.

The number of Internet users in China by the end of 2023exceeded 1.09 billion people. The population's access rate to theglobal network was 77.5%.

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