China's software and IT services industry is on fire! 🔥 In the first four months of 2024, the sector saw double-digit growth in both revenue and profits, according to official data from the Ministry of Industry and Information Technology.
Total profits skyrocketed by 14.3% year-on-year, reaching a whopping 431.4 billion yuan (about $60.69 billion). 💰 Meanwhile, combined revenue climbed 11.6% to hit an impressive 3.8 trillion yuan.
The information technology service sub-sector was a major player, with revenues increasing by 13.2% to around 2.5 trillion yuan. That's a massive 65.9% of the industry's total revenue! 🌐
Cloud computing and big data services were the real stars of the show, with combined revenues surging by 14.3% compared to the same period in 2023, reaching 410.7 billion yuan. ☁️📊
Even software products and information security got in on the action, with revenues boosting by 8.7% and 9.3% respectively. 🔐💻
This explosive growth highlights China's booming tech scene and its rising influence in the global digital landscape. Stay tuned, because the future looks bright! ✨
Reference(s):
China's software, IT service industry sees double-digit growth
cgtn.com
