Although people have been turning to online services during the Covid-19 pandemic, China’s economy shrank 6.8% in first quarter. Some sectors such as online education, remote working and gaming, have seen a surge in their traffic during the health crisis. — SCMP
Revenue at Internet companies in China grew 4.9% year-on-year to 344.6bil yuan (RM209.94bil) in the January-to-April period, but the growth rate slowed from 20.2% during the same period a year ago, according to the Ministry of Industry and Information Technology (MIIT).
Most of the revenue came from companies located in the tech-dominated eastern region of China – including Beijing, Shanghai, Zhejiang and Guangdong province – where companies generated 287.8bil yuan (RM175.27bil) of revenue with 5.7% year-on-year growth, according to data released on Wednesday.
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