xi's moments
Home | Industries

Investment, financing drop in China's internet sector in Q1

Xinhua | Updated: 2022-05-05 16:11

A visitor watches a promotion video at the China International Big Data Industry Expo 2021 in Guiyang, Southwest China's Guizhou province, May 26, 2021. [Photo/Xinhua]

BEIJING -- Investment and financing in China's internet sector continued the downward trend in the first quarter of this year as the severe international environment and resurgences of COVID-19 weighed on the capital market, said a report released by the China Academy of Information and Communications Technology (CAICT).

The disclosed value of investment and financing in the country's internet sector stood at $3.51 billion in the first three months of 2022, down 42.6 percent quarter on quarter and plunging 76.7 percent from a year ago, data from the report showed.

The number of fundraising deals in the sector dropped 35.3 percent quarter on quarter and 38.3 percent year-on-year, the data showed.

On a global scale, the disclosed value of investment and financing in the internet industry was up 4.7 percent year-on-year to $113.7 billion during the period, said the CAICT, a research institute under the Ministry of Industry and Information Technology.

Global Edition
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349