Briefly

Audio-visual industry revenue up in H1

China's broadcasting, television and online audio-visual service industry generated total revenue of 668.3 billion yuan ($95.3 billion) in the first half, representing 7 percent year-on-year growth. The development of cable TV networks and 5G is progressing in tandem, with over 28 million users now on the broadcasting 5G network, according to the National Radio and Television Administration.

Renminbi strengthens against greenback

The central parity rate of the Chinese currency renminbi, or the yuan, strengthened 253 pips to 7.0101 against the US dollar on Friday, according to the China Foreign Exchange Trade System.

Output of media industry increases

The total annual output of China's media industry surpassed 3 trillion yuan ($426.4 billion) for the first time in 2023, according to a newly published report by the School of Journalism and Communication of Tsinghua University. Driven by the recovery of offline consumption, cost-cutting measures in businesses and the emergence of new technological concepts, China's media industry experienced positive growth in 2023 with a total output of 3.15 trillion yuan, up 8.38 percent year-on-year.

Xinhua - China Daily