Over January and February, China’s software and information technology services sector ran steadily: software revenue held to double-digit growth and software exports grew at a measured pace.
Headline
Software business revenue reached 1,179.2 billion RMB, up 11.6% year on year. That is 6.1 percentage points slower than the full year 2021, and 8 percentage points above the two-year average growth of the same period in 2020 and 2021.
Software exports reached 7.75 billion USD, up 7.1% — 1.7 percentage points slower than the full year 2021, and 11.3 points above the two-year average. Outsourcing services were the strong line within it, growing 25.7%.
By segment
Software product revenue reached 271.4 billion RMB, up 9.0%, a slowdown of 3.3 percentage points against the full year. Industrial software within it reached 31.6 billion RMB, up 10.7%, and basic software grew 10.6%.
Information technology services reached 770.3 billion RMB, up 13.1%, and now account for 65.3% of total sector revenue — 0.9 percentage points more than a year earlier. Within that, cloud computing and big data services together reached 132.5 billion RMB, up 11.3% and 17.2% of IT services; integrated circuit design reached 32.5 billion RMB, up 12.5%; e-commerce platform technology services reached 126.1 billion RMB, up 24.8%; and industrial internet platform services grew 16.6%.
Information security products and services reached 25.7 billion RMB, up 11.4%. Embedded system software reached 111.8 billion RMB, up 7.8% — a markedly slower rate than the segment has been used to.
Republished for information. The original text has not been independently verified and does not necessarily reflect our views.
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