Briefly

Internet firms' profits surge in first 4 months

China's major internet companies and related services companies — or those with an annual business revenue of at least 20 million yuan ($2.8 million) — saw notable increases in profits in the first four months, data from the Ministry of Industry and Information Technology showed. Profits surged 62.1 percent year-on-year to 38.4 billion yuan during the period, while their combined business revenue stood at 408.3 billion yuan, up 3.3 percent year-on-year.

Transport investment up 13.4% in Jan-Apr

Fixed-asset investment in China's transport sector grew robustly in the January-April period, official data showed. Total investment came in at 1 trillion yuan ($140.8 billion) during the first four months, rising 13.4 percent from the same period last year, according to the Ministry of Transport. Specifically, investment in waterway development surged 29.8 percent year-on-year to 56 billion yuan. Investment amounting to about 786.1 billion yuan was channeled into road construction, an increase of 14.5 percent year-on-year.

Xinhua - China Daily