China's software industry registers 15 per cent growth in first three quarters

The revenue of China's software industry grew by 15 per cent to USD 647.4 billion in the first three quarters of this year, official data shows.

Business revenue increased by 15 per cent year on year to reach 4.5 trillion yuan (USD 647.4 billion), faster than the growth during the same period last year, according to the Ministry of Industry and Information Technology (MIIT).

Profits of the industry climbed by 14.4 per cent to 568.9 billion yuan during the January-September period. In the third quarter (Q3), software industry profit jumped by 21.8 per cent, faster than 10.8 per cent and 10.2 per cent in Q1 and Q2, respectively, the official Xinhua news agency reported.

Sales of software products reached 1.33 trillion yuan in the first three quarters while revenue of information technology services surged 18.5 per cent to 2.5 trillion yuan, according to the MIIT data.