Ministry of Industry and Information Technology: From January to July, China's internet businesses with scale achieved a total internet business revenue of 1.0125 trillion yuan, a year-on-year increase of 5%.

On August 30th, the Ministry of Industry and Information Technology released data showing that from January to July, China's internet and related service enterprises (referred to as internet enterprises) with a certain scale completed internet business income of 1.0125 trillion yuan, a year-on-year increase of 5%, with a growth rate lower by 0.6 percentage points compared to the first half of the year. From January to July, the operating costs of China's large-scale internet enterprises decreased by 0.7% year-on-year. The total profit reached 85.4 billion yuan, a year-on-year decrease of 5.8%, with a growth rate lower by 7.7 percentage points compared to the first half of the year. From January to July, China's large-scale internet enterprises invested a total of 54.01 billion yuan in research and development, a decrease of 0.3% year-on-year, with a growth rate lower by 1.5 percentage points compared to the first half of the year. The full text is as follows: Internet and related service industry operation in the first 7 months of 2024 From January to July, internet business income continued to grow steadily, while total profit experienced a short-term fluctuation and research and development expenses slightly decreased. I. Overall operation Internet business income continued to grow steadily. From January to July, China's large-scale internet and related service enterprises (referred to as internet enterprises) completed internet business income of 1.0125 trillion yuan, a year-on-year increase of 5%, with a growth rate lower by 0.6 percentage points compared to the first half of the year. Total profit experienced a short-term fluctuation. From January to July, the operating costs of China's large-scale internet enterprises decreased by 0.7% year-on-year. The total profit reached 85.4 billion yuan, a year-on-year decrease of 5.8%, with a growth rate lower by 7.7 percentage points compared to the first half of the year. Research and development expenses slightly decreased. From January to July, China's large-scale internet enterprises invested a total of 54.01 billion yuan in research and development, a decrease of 0.3% year-on-year, with a growth rate lower by 1.5 percentage points compared to the first half of the year. II. Operation in different fields Income of companies in the information services sector continued to grow. From January to July, companies primarily engaged in information services (including news, search, social media, games, music, videos, etc.) saw a year-on-year increase of 8.2% in internet business income, with a growth rate lower by 1.3 percentage points compared to the first half of the year. Companies in the life services sector saw a stable transition in income growth. From January to July, platform companies primarily providing life services (including local services, car rentals, travel, financial services, automotive, housing, etc.) saw a year-on-year increase of 1.8% in internet business income, with a growth rate lower by 0.9 percentage points compared to the first half of the year. Companies in the online sales sector saw a slight increase in income decline. From January to July, companies mainly engaged in online sales services (including bulk commodities, agricultural products, e-commerce, medical supplies, express delivery, etc.) saw a year-on-year decrease of 4.7% in internet business income, with the decline expanding by 2.4 percentage points compared to the first half of the year. III. Operation in different regions Central region maintains growth in internet business income. From January to July, the eastern region completed internet business income of 900.9 billion yuan, a year-on-year increase of 4.2%, which was lower than the national growth rate by 0.8 percentage points, accounting for 89% of the national internet business income. The central region completed internet business income of 47.73 billion yuan, a year-on-year increase of 13.1%, which was higher than the national growth rate by 8.1 percentage points. The western region completed internet business income of 61.57 billion yuan, a year-on-year increase of 11.6%. The northeastern region completed internet business income of 2.32 billion yuan, a year-on-year increase of 2.3%. The Beijing-Tianjin-Hebei region maintains a relatively fast growth in internet business income. From January to July, the Beijing-Tianjin-Hebei region completed internet business income of 3.464 trillion yuan, a year-on-year increase of 9.4%, accounting for 34.2% of the national internet business income. The Yangtze River Delta region completed internet business income of 3.653 trillion yuan, a year-on-year decrease of 1.3%, accounting for 36.1% of the national internet business income. More than half of the regions saw a significant growth in internet business income. From January to July, the top 5 provinces/municipalities with the highest cumulative internet business income were Beijing (9.6% growth), Shanghai (3.7% decrease), Guangdong (7.6% growth), Zhejiang (3.3% growth), and Tianjin (6.6% growth). They collectively completed business income of 835.66 billion yuan, a year-on-year increase of 4.6%, accounting for 82.5% of the national internet business income (excluding cross-regional enterprises). There were 17 provinces/municipalities with positive growth in internet business income, among which Gansu, Anhui, and Guizhou saw growth rates of over 30%, while Shanxi and Tibet saw declines of over 40%. This article is excerpted from the "Ministry of Industry and Information Technology official website"; GMTEight Editor: Huang Xiaodong.