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China's software industry profit decline slows

Updated: May 31,2020 09:22 PM    Xinhua

BEIJING — Revival of China's software industry has quickened in recent months with revenues, profits and recruitment growing faster, according to the Ministry of Industry and Information Technology.

Software companies reaped 2.08 trillion yuan (about $293 billion) in revenues from January to April, down 0.1 percent year-on-year, the latest figures showed.

Profits fell 2.3 percent year-on-year to 239.8 billion yuan, compared with a 13.1-percent decrease in the first quarter, showing a gradual recovery in the sector that has been hurt by the novel coronavirus epidemic.

Weighed down by the prolonged pandemic outside China, software exports remained sluggish during the period, down 13.5 percent year-on-year.

The software industry employed 6.59 million people during the first four months, up 0.2 percent from a year earlier.

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