The Chinese mainland's software and information technology service industry reported double-digit year-on-year growth in both revenue and profits for the first four months of 2024, according to official data.
Total profits of the sector surged by 14.3% year-on-year to 431.4 billion yuan (approximately $60.69 billion) during this period, while combined revenue increased by 11.6% to reach 3.8 trillion yuan, as revealed by the Ministry of Industry and Information Technology.
The information technology service sub-sector saw total revenue grow by 13.2% year-on-year to around 2.5 trillion yuan, accounting for 65.9% of the industry's total revenue.
Specifically, the combined revenue of cloud computing and big data services jumped by 14.3% compared to the same period in 2023, reaching 410.7 billion yuan.
Additionally, revenues from software products and information security rose by 8.7% and 9.3% respectively, year-on-year.
Reference(s):
China's software, IT service industry sees double-digit growth
cgtn.com
