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China aims for double-digit growth in software, IT service industry

Updated: Jan 18,2017 10:52 AM     Xinhua

BEIJING — China is aiming for double-digit annual growth in software and IT service industries during the five-year period from 2016 to 2020, according to a government plan released on Jan 17.

The Ministry of Industry and Information Technology (MIIT) set a goal for 2020, that industry business revenue should exceed 8 trillion yuan (about $1.2 trillion) with average annual growth of more than 13 percent from 2016 to 2020.

The country also aims to bring sales revenue from information security products to 200 billion yuan in 2020 with average annual growth over 20 percent.

The government will support development of software and IT service companies, encouraging them to become influential and competitive industry leaders, said the MIIT.

Chinese companies should acquire leading innovative abilities and significant advantages in key sectors such as artificial intelligence, virtual reality, cloud computing and big data, said the ministry.

In a separate plan also released on Jan 17, the MIIT said China will support exploration of the 5G standard and commercialize 5G technology by 2020.

China’s information industry saw sales reach 17.1 trillion yuan in 2015, double the level in 2010, according to the MIIT.