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China's software sector maintains rapid growth in 2019

By  : INDICS Operator Updated  :   2020-02-06 09:54:05

China's software and IT services reported steady revenue and profit increases last year, official sources said.

The sector's total revenue amounted to 7.18 trillion yuan ($1.03 trillion) in 2019, up 15.4 percent from a year earlier, with over 40,000 enterprises above the designated size in the industry according to the Ministry of Industry and Information Technology.

Its profitability also improved, with combined profits growing 9.9 percent year-on-year to reach 936.2 billion yuan.

Per-capita business income witnessed an 8.7 percent increase on a yearly basis, hitting 1.07 million yuan last year.

More specifically, information security and industrial software posted robust revenue growth of 12.4 percent and 14.6 percent respectively. Revenue of cloud computing and big data services registered a 17.6 percent increase to 346 billion yuan. The revenue of e-commerce services increased 28.1 percent, hitting 790.5 billion yuan.

South China's Guangdong province saw the highest software revenue, followed by Beijing and Jiangsu.

China's software and IT service sector has witnessed rapid development during the past decade, especially in cloud computing and big data, thanks to Internet-based innovations and upgrades in traditional sectors.

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