Wpid Money Growth

The value of China’s information consumption in 2018 is estimated to reach around 5 trillion yuan (736 billion U.S. dollars), accounting for over 10 percent of final consumption from preliminary calculation, the Ministry of Industry and Information Technology (MIIT) said Monday.

The figure went up by more than 11 percent year on year, at nearly twice the rate of China’s GDP growth.


Xie Shaofeng, director of the information and software service department of MIIT, said that the 100 information consumption pilot projects selected by the ministry last year has met the multi-level and personalized demands of Chinese consumers.

The ministry has promoted new applications and new patterns of information consumption in 2018, including smart retailing, creative design, and short-video sharing which has a penetration rate of more than 70 percent.

More than 400,000 enterprises nationwide have access to cloud services, with the top 100 software companies seeing their operating revenues related to cloud services nearly double last year. Enditem


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