BEIJING, July 3, 2022 (Xinhua) — The results of official data released by the Chinese Ministry of Industry and Information Technology showed stable growth of the country’s software and IT services sector in the first five months of this year, with software-related business revenue rising 10.6 percent.
The aforementioned data indicated that the sector’s revenue reached 3.62 trillion yuan (about 541.4 billion US dollars) in the past five months.
Companies in the aforementioned sector achieved combined profits of 374.7 billion yuan during the period, a year-on-year increase of 1.9 percent, which reflected a 1.4 percent decline in the first four months.
The data showed that China’s software exports registered 20.4 billion US dollars between January and May, up 2.7 percent year on year.