China's major internet firms report fast Q1 revenue growth; cultural industry also reported steady rebounds

BEIJING, May 2 (Xinhua): China's major internet companies posted rapid revenue growth in the first quarter this year, as online goods and services consumption boomed, official data showed.

Business revenue of major internet companies came in at 324.9 billion yuan (US$50.2 billion) in the first three months, surging 28.7 per cent year on year, according to the Ministry of Industry and Information Technology (MIIT).