China's major internet firms post robust revenue, profit growth

An AI-powered robot brews coffee during the China International Big Data Industry Expo 2021 in Guiyang, southwest China's Guizhou Province, May 26, 2021.(Xinhua/Yang Wenbin)

BEIJING, June 3 (Xinhua) -- China's major internet companies reported double-digit growth in business revenues and profits in the first four months of the year, official data shows.

The business revenues of major internet companies totaled 467.6 billion yuan (about 73.28 billion U.S. dollars) in the January-April period, up 27.8 percent year on year, according to the Ministry of Industry and Information Technology (MIIT).

The companies raked in 44.51 billion yuan in operating profits, climbing 27 percent from the same period a year earlier.

Spending on research and development in major internet companies maintained rapid growth during the period, up 19.3 percent year on year. The growth rate was 14 percentage points higher than the 2020 level.