Ministry of Industry and Information Technology: From January to May, China's internet business revenue of enterprises above designated size increased by 2.8% year-on-year

On July 3rd, the Ministry of Industry and Information Technology announced the operation of the Internet and related service industries from January to May 2023.According to data, from January to May, China's Internet and related service enterprise 1 (hereinafter referred to as Internet Enterprise 1) achieved internet business revenue of 531 billion yuan, a year-on-year increase of 2

On July 3rd, the Ministry of Industry and Information Technology announced the operation of the Internet and related service industries from January to May 2023.

According to data, from January to May, China's Internet and related service enterprise 1 (hereinafter referred to as Internet Enterprise 1) achieved internet business revenue of 531 billion yuan, a year-on-year increase of 2.8%; The operating costs of internet enterprises above designated size in China increased by 6.3% year-on-year. Realized a total profit of 57.62 billion yuan, a year-on-year increase of 43%; China's internet enterprises above designated size have invested a total of 26.07 billion yuan in research and development funds, a year-on-year decrease of 5.9%, which is 2.6 percentage points narrower than from January to April.

Specifically, the revenue of enterprises in the information service field is slightly sluggish. From January to May, the internet business revenue of enterprises mainly focused on information services (including news and information, search, social media, games, music and videos, etc.) decreased by 1% year-on-year. The revenue of enterprises in the field of life services has grown rapidly. From January to May, the internet business revenue of platform enterprises mainly providing life services (including local living, car rental, tourism, financial services, automobiles, housing, etc.) increased by 12.5% year-on-year. The revenue of enterprises in the field of online sales has maintained a high growth trend. From January to May, the internet business revenue of enterprises mainly providing online sales services (including bulk commodities, agricultural and sideline products, comprehensive e-commerce, medical supplies, express delivery, etc.) increased by 33.9% year-on-year.

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