China’s software sector reports robust revenue growth in first 11 months

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China’s software industry expanded rapidly in terms of business revenue in the first 11 months of 2022, according to official data.

Total revenue stood at nearly 9.47 trillion yuan (about 1.36 trillion U.S. dollars) during this period, up 10.4 percent from the same period last year, data from the Ministry of Industry and Information Technology showed.

Companies in this sector raked in more than 1.1 trillion yuan in combined profits — up 6.9 percent year on year.

In the first 11 months, revenue generated by information technology services reached 6.15 trillion yuan — an increase of 10.8 percent year on year.—Xinhua