China's internet sector sees steady growth in first two months of 2024

China's internet sector registered steady growth in terms of business revenue and profits in the first two months of the year, according to data from the Chinese Ministry of Industry and Information Technology, Report informs via Xinhua.

Major internet companies and related services companies saw their combined business revenue rise 7.6 percent year on year to total 246.3 billion yuan (about $34.71 billion) in January and February, the data showed.

Their cumulative profits came in at 16.97 billion yuan, up 6.5 percent year on year.

Major internet companies and related services companies refer to those which have annual business revenues of at least 20 million yuan.