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China's software industry sees revenue turnaround

Updated: Jun 27,2020 07:25 PM    Xinhua

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.

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