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China’s internet service sector continues fast growth

Updated: Oct 3,2018 3:59 PM     Xinhua

BEIJING — China’s internet service and related sectors continued to see fast revenue growth in the first eight month of the year, with stable market expansion of online gaming and streaming apps.

The sectors’ total revenue amounted to 595.5 billion yuan (about $86.7 billion) in January-August, up 20.7 percent year on year, according to the Ministry of Industry and Information Technology.

In January-August, Guangdong, Shanghai and Beijing saw their internet business revenues up 20 percent, 28.4 percent and 25 percent year on year, remaining the top three in the ranking.

Information services were the largest revenue contributor, accounting for 90.6 percent of the total revenue, with online gaming earning 129.4 billion yuan, up 24.8 percent year on year. E-business sector earned 218.1 billion yuan, rising 34.4 percent year on year.

China had 4.3 million mobile apps by the end of August, including more than 2.5 million on domestic third-party app stores. Gaming apps remained dominant, followed by daily service apps and e-commerce apps.