Chinese software industry saw rapid profit growth in the first quarter
Beijing-Official data show that in the first quarter of this year, Chinese software and information technology (IT). Service industries continued to resume growth, with profits growing rapidly.
According to data from the Ministry of Industry and Information Technology (MIIT). The industry’s total profit during the same period was 237.1 billion yuan (36.51 billion U.S. dollars). A year-on-year increase of 25.9%.
In the first three months of this year. Chinese software industry achieved revenue of 1.9 trillion yuan, a year-on-year increase of 26.5%. However, the growth rate has accelerated from 21.3% in the previous two months.
Thanks to the increase in demand for digital transformation in the manufacturing industry. The revenue of industrial software products increased by 20.9% year-on-year to 47.9 billion yuan, an increase of 2.5 percentage points from January-February.
In the first quarter, the application of new information technologies such as cloud computing and big data continued to accelerate. Furthermore, achieving revenue of 170.6 billion yuan, an increase of 26.6%.
Data from the Ministry of Industry and Information Technology also showed that the revenue from e-commerce platform technical services increased by 33.2% in the first three months to reach 159.9 billion yuan, while the revenue from integrated circuit design increased by 38.5%. According to data from the Ministry of Industry and Information Technology, software exports maintained rapid growth in the first quarter, up 15.4% year-on-year to 11.1 billion US dollars.