China's internet sector R&D spending logs robust growth in Jan.
A staff member of China Electronic Technology Group Corporation (CETC) demonstrates a wearable exoskeleton robot during the Light of Internet Expo in Wuzhen, east China's Zhejiang Province, Nov. 8, 2022. (Xinhua/Jiang Han)
BEIJING, Dec. 4 (Xinhua) -- China's major internet enterprises saw their spending on research and development (R&D) resume a double-digit expansion in the first 10 months of 2022, official data showed.
During this period, R&D spending of these firms totaled 63.67 billion yuan (about 9.03 billion U.S. dollars), up 10.4 percent year on year, with a pace 1.6 percentage points faster than that recorded in the first three quarters, according to the Ministry of Industry and Information Technology.
The combined business revenue of major internet companies and related services companies edged down 0.8 percent year on year to 1.22 trillion yuan, but the decline narrowed 0.1 percentage points from the first three quarters, the data showed.
Specifically, business revenue of firms mainly providing online sales services soared 16.3 percent compared to one year earlier -- a pace 1 percentage point faster than the Jan.-Sept. period.
Major internet companies and related services companies are those with an annual business revenue of at least 20 million yuan. ■
Related articles
Chinese defense minister holds video call with US counterpart
Chinese Defense Minister Dong Jun held a video call with U.S. Defense Secretary Lloyd Austin on Tues2024-04-30Chynna Phillips, 56, reveals she has to undergo surgery to remove a 14
Chynna Phillips has revealed she will have to undergo surgery in order to remove a 14-inch tumor fro2024-04-30Norfolk Southern's earnings offer railroad chance to defend its strategy ahead of control vote
Norfolk Southern’s first-quarter earnings report Wednesday gave the railroad the opportunity to publ2024-04-30Nootbaar, Gibson spark Cardinals to 5
ST. LOUIS (AP) — Lars Nootbaar drove in two runs and Kyle Gibson pitched six effective innings, lift2024-04-30Stunning Michigan castle near Detroit hits market for $2.3M
A house fit for a king!A la 'Game of Thrones', a literal castle has hit the market in the US - thoug2024-04-30Remnants of bird flu are found in grocery store milk
Pieces of bird flu have been detected in grocery store milk - despite health officials insisting for2024-04-30
atest comment