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China's software industry sees rapid recovery

Updated: Oct 06,2020 05:13 PM    Xinhua

BEIJING — China's software industry has seen rapid recovery as revenue and profit growth gathers steam, according to the Ministry of Industry and Information Technology.

Software companies reaped nearly 5 trillion yuan (about $734.2 billion) in revenues from January to August, up by 10 percent year-on-year, compared with an 8.6-percent increase in the first seven months.

In the first eight months, the profit of the software industry reached 602 billion yuan, up by 5.9 percent year-on-year.

However, software exports declined by 1.3 percent year-on-year in the first eight months to $29.7 billion.

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