China's largest Internet company with annual revenue from over 5 million yuan of Internet services last year. Continue to grow steadily during the first 5 months of this year. Even in the face of the epidemic of the Covid-19 virus.
The Chinese Ministry of Industry and Information Technology (MIIT) reported that China's largest Internet company has achieved revenue of 4719 billion yuan (about 68.8 billion US dollars) in the period of Jan-May. An increase of 14.9% compared to the same period last year
Operating profits increased by 3.1% year on year to 5.33 billion yuan.
At the same time, spending on research and development increased 10 percent year on year to reach 23.3 billion yuan.
The Xinhua News Agency reported that The internet has become an important sector of China's "new economy" as China is transitioning to an economy driven by technology and more consumption.
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