An automated installation demonstrates house building at the Intelligent Industry & Information Technology Exhibition Area of the 4th China International Import Expo (CIIE) in east China's Shanghai, Nov. 7, 2021. (Xinhua/Jin Liwang)
BEIJING, April 26 (Xinhua) -- China's software and information technology service sector is embarking on a fast track of development with policy support, reported the Xinhua-run Economic Information Daily on Tuesday.
In the first quarter, the industrial revenue rose 11.6 percent year on year to two trillion yuan, 2.7 percentage points higher than the average growth rate for the same period of the past two years, according to data released by the Ministry of Industry and Information Technology on April 24.
Total profits of the sector in the first three months stood at 203.1 billion yuan, down 3.9 percent year on year, narrowing the decline by 3.7 percentage points from the January-February period.
In breakdown, the revenue of industrial software products, cloud computing and big data services, integrated circuit design, industrial internet platform-based services, information security products and services all registered double-digit year-on-year growth, at 12.1 percent, 10.4 percent, 17.2 percent, 17.4 percent, and 12.9 percent, respectively.
China has rolled out a series of policies to support the development of the software industry since last year.
The country unveiled a development plan for the software and information technology service sector during the 14th Five-Year Plan period (2021-2025) in last November, which points out to develop more than one million industrial applications by 2025 and foster a competitive edge in software for key industries such as finance, construction, and energy.
In January, China rolled out a plan to facilitate the development of the digital economy from 2021 to 2025, pledging to promote the industrialization and large-scale application of software and hardware.
This year's government work report also proposes to accelerate the development of industrial internet, fatten up digital industries such as integrated circuits and artificial intelligence, and enhance the capacities to innovate and supply key software and hardware technologies.
China's software and information technology service industry is expected to realize industrial chain upgrading and usher in new development opportunities during the 14th Five-Year Plan period, according to CITIC Securities, a major securities broker in China. (Edited by Su Dan with Xinhua Silk Road, sudan@xinhua.org)
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