China's online services a $10t opportunity: Goldman predicts

Agencies | Updated: 2016-05-18 13:57

China's online services a $10t opportunity: Goldman predicts

Logos for Tencent, Alibaba and Baidu, April 21, 2014 [Photo/VCG]

China's internet services have a potential of generating around $10 trillion of revenues by the end of 2020, according to CNBC, which quoted Goldman Sachs as saying in a research note released on Tuesday.

This means "immense online profit opportunity" of around $70 billion in the same period," the investment bank said.

The estimates showed the bank's change of stance on China's internet services market.

"For the first time since 2010, we have a high degree of confidence in the long-term growth and potential (operating) profit pool for China internet," a team of analysts, led by Piyush Mubayi, said in the research note.

The note highlighted internet giants Tencent Holdings Ltd, Baidu Inc and Alibaba Group Holdings Ltd, as well as online services sites such as Ctrip.com, JD.com and vip.com.

Related Stories

Photo

New Chinese electric-car manufacturer targets young people

3rd World Internet Conference to be held in Wuzhen from Nov 16 to 18

Volunteers train for World Internet Conference in Wuzhen

Shanghai mall creates husband nursery while wives shop

Awesome moments from Airshow China 2016

Chinese captain takes off at Air Show China in Zhuhai

Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.

Registration Number: 130349