China's software industry reports robust expansion in 2022

BEIJING -- China's software and information technology services industry logged steady growth in 2022, data from the Ministry of Industry and Information Technology shows.

The combined software revenues of major companies in the sector topped 10.81 trillion yuan (about $1.6 trillion) last year, up 11.2 percent year-on-year, according to the ministry.

The sector's total profits rose 5.7 percent from the previous year to 1.26 trillion yuan, the data shows.

In the same period, industrial software product revenues surged 14.3 percent from 2021, 3.1 percentage points higher than the level of the industry at large.

Cloud computing and big data services revenues rose 8.7 percent year-on-year, and e-commerce platform technical services revenues jumped 18.5 percent, the data shows.