Digital industry revenue up in Q1

China's digital industry generated revenue of 9.5 trillion yuan ($1.39 trillion) in the first quarter, up 12.9 percent from the same period last year. The growth rate is 3.5 percentage points higher than the same period last year, data from the Ministry of Industry and Information Technology showed. In the period, the digital industry achieved total profit of 737.8 billion yuan, up 23.6 percent year-on-year, with the growth rate accelerating by 16.6 percentage points. The number of 5G base stations in China topped 4.9 million by the end of March. In the first three months of the year, the value-added industrial output of major companies in the electronic information manufacturing sector expanded 13.6 percent year-on-year, while revenue of the software sector increased by 11.7 percent year-on-year.

Yuan loans grow in first four months

China's yuan-denominated loans rose 8.59 trillion yuan ($1.26 trillion) in the first four months of 2026, central bank data showed. At the end of April, outstanding yuan loans stood at 280.5 trillion yuan, up 5.6 percent year-on-year, according to the People's Bank of China. The M2, a broad measure of money supply that covers cash in circulation and all deposits, had increased by 8.6 percent year-on-year to 353.04 trillion yuan by the end of last month. The M1, which covers cash in circulation, demand deposits and client reserves of non-bank payment institutions, reached 114.58 trillion yuan at the end of April, up 5 percent from the same period of last year.

Xinhua - China Daily