11 May 2023, Thursday, 05:38

China's software industry sees strong growth in Q1

A worker checks the spring farming progress of the Datian rural cooperative by a monitor system on a computer in Jiangxiang Town, Nanchang County of east China's Jiangxi Province. Photo by Xinhua/Peng Zhaozhi.

China's software and information technology service industry reported steady growth in revenue and profits in the first quarter (Q1) of 2023, data from the Ministry of Industry and Information Technology showed. This was reported by The Xinhua News Agency.

Profits of the sector expanded 15.1% year on year to ¥266 bln (about 3$8.42 bln) in Q1, while revenue grew by 13.5% from a year ago to ¥2.44 trln, the data revealed.

Revenue from software products increased by 12.1% year on year to ¥605.8 bln in this period. Revenue from industrial software products expanded to ¥59.5 bln, marking a year-on-year increase of 12.5%, according to the data.

Cloud computing and big data services revenue jumped 16.6% year on year, and e-commerce platform technical services revenue rose 4.8%, the data showed.

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