Internet sectors post $154.2b revenue

China's internet and related sectors saw double-digit growth in revenue during the first 10 months of the year, official data showed. Major internet companies raked in 1.01 trillion yuan ($154.18 billion) in the January to October period, up 13.1 percent on a yearly basis, according to the Ministry of Industry and Information Technology. During the period, the operating profit of the industry grew by 8.8 percent on a yearly basis to 98.65 billion yuan, while the sector's spending on research and development totaled 61.98 billion yuan, 15.6 percent higher than a year ago.

3 more floats on STAR Market

The securities regulator has approved the initial public offerings registration of three companies on the science and technology innovation board. Pylon Technologies Co Ltd, 3onedata Co Ltd and Suzhou Veichi Electric Co Ltd will be listed on the Shanghai Stock Exchange's sci-tech innovation board, commonly known as the STAR Market, according to the China Securities Regulatory Commission.

Xinhua