China’s Software Sector Sees Steady Revenue Growth in Q1

A report from Xinhua on May 5th, 2022:

China’s software and information technology sector sustained stable growth in the first quarter (Q1) of this year, with revenue from software-related business up 11.6 percent year-on-year, official data showed.

Software revenue of the sector topped 2 trillion yuan (about $302 billion) during the period, according to the Ministry of Industry and Information Technology.

Companies in the sector raked in 203.1 billion yuan in combined profits in the period, down 3.9 percent year-on-year, shrinking from the 7.6-percent decline registered in the first two months.

In the first three months, China’s software exports came in at $11.6 billion, up 4.3 percent year-on-year, the data showed.