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China's software industry growth quickens

Source:   Time:

BEIJING, May 15 (Xinhua) -- The growth of China's software industry quickened last year despite sluggish market demand caused by an economic slump at home and abroad, showed official data revealed on Wednesday.

Chinese software companies garnered 2.48 trillion yuan (399.55 billion U.S. dollars) in revenue in 2012, a rise of 31.5 percent from the previous year, the Ministry of Industry and Information Technology said.

The growth rate was up from the 25.4 percent recorded in 2011, according to the ministry's data.

The increase is attributable to flourishing software businesses in the nation's major cities, Chen Wei, director of the ministry's Department of Software Service Industry, said at a Beijing press conference for an upcoming software expo.

The software industry's revenue in 15 major Chinese cities, including Beijing and Shanghai, totaled 1.36 trillion yuan last year, accounting for 55 percent of the sector's national total, Chen said.

However, the official warned of the impacts inflicted by intensifying market competition, declining overseas demand and regional disparities in development, urging the sector to undertake an innovation-driven path.

More than 600 software companies will attend the 17th International Soft China, which will see the latest software and information technology services displayed in Beijing from May 30 to June 1.

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