Briefly

Key internet firms report profit growth

China's major internet companies saw notable profit increases in the first half, said the Ministry of Industry and Information Technology. Major internet companies saw their combined profit rise 27.6 percent year-on-year to 63.96 billion yuan ($8.97 billion) during the period. Their combined business revenue came in at 643.3 billion yuan, up 2.6 percent year-on-year. Enterprises that mainly offer online sales services saw their internet business revenue increase 37.4 percent from a year earlier.

Warehouse storage sector expands

China's warehouse storage sector expanded for a sixth consecutive month in July, according to a survey jointly released by the China Federation of Logistics and Purchasing and CMST Development Co Ltd on Wednesday. The index tracking the sector's development stood at 52.2 percent last month, up 1.5 percentage points from June, the survey showed. A reading above 50 percent indicates expansion, while a reading below 50 percent reflects contraction.

Xinhua - China Daily