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App Numbers in China Plunge as Regulatory Pressure on Internet Sector Intensifies

November 5, 2021
Source: chinabankingnews.com chinabankingnews.com
News Snapshot:
The number of apps on the market in China has seen a sharp decline, as authorities apply greater pressure to the country’s online platforms and fintech sector. As of the end of September the number of apps monitored on China’s domestic market stood at 2.74 million, for a net decline of 80,000 compared to August, according to figures from the Ministry of Industry and Information Technology (MIIT). In the month of September a total of 60,000 new apps hit the digital shelves of online platforms, while a further 140,000 were removed from sales. Despite a recent crackdown on Internet platforms...
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Tags: app | China | crackdown | currency | digital | fintech | gaming | information technology | Internet | MIIT | Ministry of Industry and Information Technology | online | online game | R&D | Renminbi | revenue | sales | Sharp | technology | Three | Total | Yuan

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