BEIJING: China’s software and information technology service industry witnessed double-digit growth in profits and revenue in the initial four months of the year in 2023, data from the Ministry of Industry and Information Technology revealed.
The data further maintained that the sector’s profits increased by 13.8 percent year-on-year (y-o-y) to 367.4 billion yuan (about 51.77 billion U.S. dollars) in the period. Besides, revenue grew by 12.8 percent from a year ago to 3.32 trillion yuan.
China’s Growing Software Technology
Revenue from software products expanded 11.1 percent y-o-y to 818.3 billion yuan in the same period. According to the data, revenue from industrial software products grew to 81.48 billion yuan, marking a year-on-year increase of 15.1 percent.
Meanwhile, Cloud computing and significant data services revenue jumped 16.3 percent y-n-y, and e-commerce platform technical services revenue rose 4.1 percent.
In the last couple of years, China witnessed a rapid advancement in information and software technology, taking the country to a technological giant globally.
