China’s software and IT sector maintained stable growth in the first quarter of this year, with software-related business revenue growing 11.6 percent year-on-year.
The Ministry of Industry and Information Technology stated that the sector’s software revenue exceeded two trillion yuan ($ 302 billion) during this period, according to the Chinese news agency “Xinhua”.
Companies in the sector generated 203.1 billion yuan in consolidated profits during the period, down 3.9 percent year-on-year, narrowing from the 7.6 percent decline recorded in the first two months.
The data showed that China’s software exports reached $ 11.6 billion in the first three months, up 4.3 percent year-on-year.
The volume of investment and financing in the internet sector in the country continued the downward trend in the first quarter of this year, influenced by the dense shadows caused by the difficult international conditions, and the resurgence of high cases of Covid-19- infection, which puts pressure on the capital market.
The results of a report issued by the Chinese Academy of Information and Communication Technology showed that the volume of investment and financing in the country’s internet industry during the first three months of this year 2022 amounted to $ 3.51 billion, a decrease of 42.6 percent on a quarterly basis, and a decrease of 76.7 percent, compared to last year.
The number of fundraising transactions in the sector fell 35.3 per cent, on a quarterly basis, and 38.3 per cent year-on-year.
Globally, the value of investment and funding revealed by the Internet industry has risen year-on-year during the said period by 4.7 percent to $ 113.7 billion, the academy, a research institute affiliated with the Ministry of Industry and Information Technology, said.
Revenues from major Chinese Internet companies rose steadily in the first quarter of 2022, data from China’s Ministry of Industry and Information Technology showed.
Revenue from these companies rose 1.4 percent year-on-year to 323.6 billion yuan (about $ 48.9 billion) during the period.
Profit fell 10.3 percent year-on-year to 15.45 billion yuan, with the decline increasing 2.9 percentage points from that in the first two months of the year.
In the first quarter, major Chinese Internet companies invested a total of 17.75 billion yuan in research and development, a year-on-year increase of 8.4 percent. The growth rate was 11.2 percentage points higher than in the January-February period.
The term large internet companies refers to companies that focus on the internet and related services, each with an annual business income of at least five million yuan.
The Chinese economy has excellent potential and resilience, with economic fundamentals remaining attractive to long-term investors, Swiss banker Fiorenzo Manganiello said.
And the British newspaper “Financial Times” recently reported that many international investment banks are implementing ambitious plans to expand their business in Shanghai, and they will not be discouraged by the current prevention and control measures against Covid-19 in the city.
According to Manganiello, co-founder of Lian Group, a private equity firm in Europe, these expansion plans prove that China remains one of the world’s most resilient economies during the pandemic, and that its future growth potential remains stronger than most other major economies. .
In addition, the Industrial Bank Company, Ltd., said last year it issued more comprehensive loans to small and micro companies to help them solve financing problems amid the Covid-19 pandemic.
The bank provided 107.5 billion yuan (about $ 16.24 billion) in new loans to small and micro-enterprises last year, 56 percent more than the previous year 2020.
During the first quarter of this year, the bank continued to increase lending to small and micro enterprises by providing 23.7 billion yuan in new loans.
By the end of 2021, the bank had postponed capital and interest payments to 19,600 small and micro enterprises with a total value of 53.5 billion yuan and exempted the listed companies from paying 150 million yuan in fees.
The latest data revealed that of the 89 companies listed on the Beijing Stock Exchange, 88 of them recorded profits last year, and the total net profit of the 89 companies has 7.25 billion yuan ($ 1.1 billion) in 2021, an increase of 23.8 percent year. on year, according to the Beijing Stock Exchange.
During the period, the companies generated 66.89 billion yuan in revenue, 31.1 percent higher than the previous year. Stock market data also show that more than half of the listed companies last year saw their net profit exceed 50 million yuan. The stock exchange said despite the complex and gloomy local and international situations, the listed companies showed strong resilience and vitality.
China’s mobile gambling sector recorded steady growth in the first quarter of this year, according to a report released by CNG, a research agency in the aforementioned sector.
The report showed that the sales revenue of the country’s mobile gaming industry exceeded 60.43 billion yuan ($ 9.13 billion) during the period cited, 2.72 percent year-on-year, and an increase of 9.28 percent over the fourth quarter of last year.
The country’s gaming market’s total revenue reached more than 79.47 billion yuan, up 3.17 percent year-on-year and 10.08 percent quarter-on-quarter.
Games developed in China generated more than $ 4.55 billion in the overseas market, down 0.54 percent on a quarterly basis, according to the report.
On the other hand, data from the Chinese Ministry of Transport showed that the volume of passenger transport in China recorded a year-on-year decline in the first quarter of this year.
The country’s transportation network handled 1.54 billion passenger journeys during the period, down 22.5 percent year-on-year, according to the ministry.
In detail, the number of land passenger journeys reached 970 million, down 26.1 per cent year-on-year, while water transport passenger volume shrank by 20.6 per cent, compared to the previous year, to 26.47 million journeys.
The data also showed that total passenger travel via public transportation in 36 major Chinese cities was 10.91 billion in the quarter, 10.7 percent lower than the same period last year.