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Investment, financing in Chinese internet firms surge in Q2

Updated: Jul 21,2018 1:32 PM     Xinhua

BEIJING — China’s internet sector received about $27.6 billion in the second quarter of 2018, up 72.5 percent year-on-year, according to a report released on July 20.

The number of internet companies receiving investment and financing in Q2 reached 727, up 87.4 percent year-on-year, said the report by China Academy of Information and Communications Technology.

Areas receiving the most investment were internet finance, enterprise service, e-commerce and online education, with 131, 100, 89 and 72 investment cases respectively.

Internet financing companies received $16.2 billion during the period, accounting for nearly 60 percent of the total investment.