China`s software industry expands in first 2 months

China’s software and information technology service industry got off to a good start in 2024, with double-digit growth reported in revenue and profits in January and February.

Data from Ministry of Industry and Information Technology had shown this.

The data said that those profits in the sector expanded 11.5 per cent year on year to 206.4 billion yuan, about 29.09 billion dollars, during the period.

The data also showed that revenue grew by 11.9 per cent from the year before to nearly 1.71 trillion yuan.

“Revenue from software products increased 8.4 per cent year on year to 394.4 billion yuan during this period.

“While revenue from industrial software products expanded to 40.7 billion yuan, marking a year-on-year increase of 8.2 per cent.

“Cloud computing and big data services revenue jumped 13.8 per cent year on year, and e-commerce platform technical services revenue rose 3.8 per cent,’’ the data shows.

Xinhua/NAN