Internet funding rises by double-digits
Print Edition
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.
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