Chinese new media sector more diverse

China's new media sector has been maturing, with globalized industry leaders and vibrant smaller enterprises, according to a report published by the Xinhua News Agency on Wednesday. With the popularity of new media, most notably the wide use of mobile Internet and smartphones, China's new media sector has diversified its structure by integrating the Internet, communications, hardware, software and information services industries, according to the report. Leading players in the industry, including major companies like China Mobile and Huawei, have picked up the pace in improving their global layout, the report said. Huawei, a telecommunications equipment giant based in south China's city of Shenzhen, reaped more than 35 billion U.S. dollars in business revenues and net profits of 2.4 billion U.S. dollars in 2012, both representing double-digit growth year on year, according to the report. Although some Chinese firms' overseas acquisition efforts were thwarted, their global expansion will continue, the report said. In addition to high-growth industry leaders, small- and medium-sized enterprises flourished thanks to the sector's low entry barrier, the report said. Bolstered by national strategic development plans, research and development conducted by new media enterprises also improved, with new technology and an increasing number of mobile Internet-based applications emerging. The report added that the booming new media sector has provided growth opportunities to affiliated industries, citing a rapidly growing express delivery industry that has been boosted by the burgeoning online shopping sector, The "Report on China's Rising New Media" is the first report of its kind released by the Xinhua News Agency, China's official newswire service.