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For jeff:China’s information service revenue grows 16.7% Year on Year in Q1

ByYang Zhijie  Yuan Tianyi

China’s income from information technology services grew rapidly, achieving a year-on-year growth of 16.7% in the first quarter this year, according to data released by official website of the Ministry of Industry and Information Technology on Wednesday.

China’s Internet and related service enterprises above designated size earned 215.3 billion yuan (about US$ 30.58 billion) in the quarter, up 1.5% year-on-year, and the growth rate dropped 15.8% year-on-year.

Operating profit reached 18.44 billion yuan, down 24.9% year on year.  Investment in research and development was flat year on year, the data showed.

In the first quarter, Internet enterprises completed 146.6 billion yuan in revenue from information services including online music and video, online games, news information, online reading, etc., up 11.1% year on year, accounting for 68.1% of Internet business revenue.

The business income of online games and audio and video service enterprises continues to grow rapidly. Beijing, Guangdong, Shanghai, Zhejiang and Fujian, which are among the top five in terms of accumulated income from Internet services, have completed a total of 166.1 billion yuan in Internet services, accounting for 86.6% of the country’s total.

In the first quarter, revenue from Internet enterprises from Internet access and related services and revenue from Internet data services were 7.17 billion yuan and 3.46 billion yuan respectively, up 12.2% and 8.9% year-on-year.

Debt and interest payment delayed to relieve pressure of enterprises

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