Software, IT sectors see revenues rise 23% to $682b in H1

China's software and information technology service industry recorded booming business volume in the first half of this year, with revenues reaching 4.42 trillion yuan ($682.86 billion), up 23.2 percent year-on-year, a compound increase of 14.7 percent in past two years, official data showed.

The sector's profits maintained steady growth in H1, rising 13.6 percent yearly to 499.9 billion yuan, with compound increase of 7.3 percent in recent two years, according to the Ministry of Industry and Information Technology.

Export volume expanded 12.2 percent year-on-year to $24 billion, and the growth rate slightly went up from that of the first five months.

Software products generated 1.15 trillion yuan of revenues in the January-June period, increasing 20.1 percent on a yearly basis.

As China accelerated the industrial digital transformation, and the process of software autonomy and control, revenues in industrial software products in H1 surged 20 percent compared to last year, reaching 110.7 billion yuan.

Business volume in information technology industry continued its upward trend. The sector's revenue registered 2.83 trillion yuan in the first half, a year-on-year increase of 26 percent.

Next-generation technologies, such as cloud computing and big data service, generated revenues of 378.7 billion yuan, up 23.2 percent from a year earlier.

Revenue from e-commerce platform technology services reached 384.3 billion yuan, up 32.4 percent year-on-year.

Integrated circuit design segment saw revenue of 104.1 billion yuan, growing 24.1 percent from the same period last year.

As enterprises added investment in information security, revenue from information security products and services maintained fast growth in H1. Total revenue hit 73.2 billion yuan, climbing 26 percent year-on-year, with growth rate rising 1.2 percentage points from the first quarter.