China internet economy to exceed US$893 billion by 2020

China's internet economy generated nearly 3.7 trillion yuan (US$551 bn) in revenues in 2017, an increase of 42.5% year-on-year. This market has rebound back from 2016’s cooling and is projected to exceed 5.9 trillion yuan (US$893 bn) by 2020. In the next three years, the growth is estimated to keep steady at around 20%.

The top three categories, namely, lifestyle consumption, entertainment, and internet finance, combined represented over 75% of the total internet economy revenues in C...