China's software industry reports robust expansion in 2022

China's software and information technology services industry logged steady growth in 2022, data from the Ministry of Industry and Information Technology shows. This was reported by The Xinhua News Agency.

The combined software revenues of major companies in the sector topped ¥10.81 trln (about $1.6 trln) last year, up 11.2% year on year, according to the ministry.

The sector's total profits rose 5.7% from the previous year to ¥1.26 trln, the data shows.

In the same period, industrial software product revenues surged 14.3% from 2021, 3.1 percentage points higher than the level of the industry at large.

Cloud computing and big data services revenues rose 8.7% year on year, and e-commerce platform technical services revenues jumped 18.5%, the data shows.