BEIJING — Revival of China's software industry has quickened as revenue growth entered positive territory, according to the Ministry of Industry and Information Technology.
Software companies reaped nearly 2.8 trillion yuan (about $395.6 billion) in revenues from January to May, up 4.2 percent year-on-year, compared with a 0.1-percent drop in the first four months.
In the first five months, profit of the software industry reached 321.9 billion yuan, down 1.1 percent year-on-year. The decline narrowed by 1.2 percentage points from the January-April period, showing a gradual recovery in the sector that has been hurt by the COVID-19 epidemic.
Software exports continued slow recovery, with total exports amounting to $16.6 billion during the period.