Chinese Internet companies’ 2022 revenue declines year-on-year for the first time in nearly a decade

[February 10, 2023](Comprehensive report by Epoch Times reporter Li Siqi) The CCP recently released data stating that the business revenue of Internet and related service companies above designated size in China in 2022 will be 1.46 trillion yuan (about 220 billion yuan) US dollars), down 1.1% year-on-year, the first time since 2013 that business incomeNegative growth.

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The Ministry of Industry and Information Technology of the Communist Party of China (Ministry of Information Technology) released the “Operation of the Internet and Related Services Industry in 2022” on January 31, stating that Internet and related services with an annual operating income of more than 20 million yuan (about 3 million U.S. dollars) in China The total business income of enterprises (hereinafter referred to as Internet enterprises) was 1.49 trillion yuan, a year-on-year decrease of 1.1%. Although the total profit will increase by 3.3% year-on-year in 2022, the growth rate will drop by 10 percentage points compared with 2021.

From the perspective of the service field, the operating income of Internet companies in 2022 will mainly drop sharply in the field of life services, with a drop of 17.5%. The field of life services includes local life, car rental, travel, financial services, cars, housing and housing, etc.

Beijing, Shanghai, Guangdong, Zhejiang, and Tianjin will rank among the top five in terms of cumulative Internet business revenue in 2022. The revenue of these five regions accounts for as high as 85.6% of China’s revenue. Except for Beijing and Shanghai, which grew by 6.6% and 8.0% respectively, Tianjin saw a drop of 38.1%, Guangdong and Zhejiang fell by 6.8% and 2.1% respectively. In addition, there are large differences between different provinces. The cumulative revenue of Internet business in Henan and Yunnan in 2022 will drop by more than 50%.

If we combine the data released by the Central Information Department of the Communist Party of China and the data from 2013 to 2019 in the previously released “Operation of the Internet and Related Service Industry in 2019”, in 2022,China InternetFor the first time since 2013, the total business income of enterprisesNegative growth.

At the beginning of 2022, it was called “cold winter” by Chinese Internet people, becauseTencent,baiduDidi, Jingdong, Meituan and other large Internet companies have laid off employees one after another.

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TencentThe latest financial report of Holdings (00700.HK) is the interim report for 2022. As of June 30 in 2022, its operating income fell by 1% year-on-year, its gross profit fell by 8% year-on-year, and its operating profit plummeted by 38% year-on-year. During the reporting period, its profit fell by as much as 53% year-on-year. And its operating income in 2021 is still growing, with a year-on-year increase of 16.2%.

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The interim report stated that Tencent’s online advertising revenue in the second quarter of 2022 fell 18% year-on-year to 18.6 billion yuan (about 2.8 billion U.S. dollars), “reflecting the obvious weak demand in Internet services, education and finance.”

China InternetThe industry’s “cold winter” in 2022 is directly related to the strong supervision of the Chinese authorities.

On February 7, 2022, eight departments including the Ministry of Transport of the Communist Party of China jointly issued a notice on the supervision of the entire chain of online taxi reservations (referred to as online car-hailing), claiming that the online car-hailing platform that has been deemed “violating laws and regulations” but has not corrected Companies and authorities can initiate multi-departmental and multi-regional joint supervision.

On July 2, 2021, the Internet Information Office of the Communist Party of China (CAC) issued an announcement announcing the launch of a “network security review” on Didi Global Inc. . On July 21, 2022, the CAC fined Didi Chuxing 8.026 billion yuan (about 1.2 billion U.S. dollars), and Didi Chuxing Chairman and CEO Cheng Wei and President Liu Qing each fined 1 million yuan (about 150 million U.S. dollars). Ten thousand U.S. dollars).

In addition to the targeted “security review” of Didi Chuxing, the CCP’s regulatory authorities also launched the so-called “Qinglang” operation in 2022 to review China’s entire network system. According to a report by the CCP’s official media, Xinhuanet, the Cyberspace Administration of China interviewed 8,608 website platforms in 2022, warned 6,767, fined 512, suspended or updated 621, and removed mobile apps. 420 models. In addition, in 2022, the Cyberspace Administration of the Communist Party of China and the competent telecommunications authorities of the Communist Party of China will shut down 25,233 websites. ◇

Editor in charge: Lian Shuhua