China’s software and information technology services industry have maintained a remarkable trajectory of growth, demonstrating increased revenue and profits throughout the initial seven months of this year.
According to the Ministry of Industry and Information Technology, China’s software industry amassed profits totaling 737.4 billion yuan (equivalent to approximately US$102.72 billion) from January to July. This figure represents a notable surge of 13.4% when compared to the corresponding period last year.
Simultaneously, the industry achieved a substantial total revenue of 6.46 trillion yuan during the same period, marking a noteworthy year-on-year increase of 13.6%.
The surge in revenue was driven by several key factors, including significant growth in cloud computing and big data services. These segments witnessed a robust increase of 16.2% year on year, resulting in a total revenue of 640.9 billion yuan.
Furthermore, the information technology and information services provided by e-commerce platforms also experienced substantial growth, with a revenue increase of 7.7% year on year. This sector generated revenue amounting to 570.7 billion yuan in the seven-month period.
China’s software and information technology services industry’s ongoing expansion highlights the nation’s commitment to fostering a thriving tech ecosystem and embracing innovation. These impressive figures underscore the sector’s role as a driving force behind China’s economic growth, reflecting the industry’s resilience and adaptability in an ever-evolving global landscape.