Internet funding rises by double-digits

Source: Xinhua | 2017-11-06

CHINA’S Internet industry saw double-digit year-on-year growth in investment in the third quarter.

Investment in the industry reached US$6 billion in the third quarter, up 22.2 percent from a year earlier, according to a report released by China Academy of Information and Communications Technology.

On a quarter-on-quarter basis, however, the number fell 55.6 percent amid a lack of large-value investment cases.

There were 429 investment cases in the third quarter, up 75.1 percent from the second quarter, and 193.8 percent from the same period last year, showing a more active capital market.

Among all investment cases, 83 were in e-commerce, 77 in Internet finance, 48 in business services and 36 in online education.

In terms of investment value, Internet finance drew the most investment — US$1.26 billion — followed by online tourism and e-commerce.