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China's software sector logs rapid growth in January-July

Xinhua | September 4, 2023


A staff member from a technology company demonstrates an AI software at an exhibition at China Science Fiction Convention (CSFC) 2023 in Beijing, capital of China, May 30, 2023. (Xinhua/Chen Zhonghao)

China's software and information technology service industry maintained double-digit growth in revenue and profits in the first seven months of the year, official data showed.

Profits of the sector reached 737.4 billion yuan (about 102.72 billion U.S. dollars) during the period, up 13.4 percent from the same period last year, according to the Ministry of Industry and Information Technology.

The combined revenue of this sector came in at 6.46 trillion yuan in the period, surging 13.6 percent year on year.

Specifically, the revenue of cloud computing and big data services soared 16.2 percent year on year to 640.9 billion yuan, and that of e-commerce platforms' information and technology services went up 7.7 percent year on year to 570.7 billion yuan in the same period.