Briefly

Internet firms see revenue, profit growth

China's internet sector registered steady growth in business revenue and profits in the first 11 months of 2023, said the Ministry of Industry and Information Technology. Major internet companies and related service providers saw their cumulative profits rise 2.5 percent year-on-year to 118.9 billion yuan ($16.79 billion) during the period. Their combined business revenue came in at 1.57 trillion yuan, up 6.1 percent.

Balance of loans up in Yangtze River Delta

The balance of loans in China's Yangtze River Delta region rose 12.7 percent year-on-year to 63.85 trillion yuan ($9.01 trillion) at the end of November, said the People's Bank of China Shanghai Head Office. The overall balance of yuan-denominated loans stood at 62.84 trillion yuan, up 13.5 percent. The balance of foreign currency-denominated loans in the region was $143.1 billion, down 19.2 percent.

Xinhua - China Daily