China's software industry consisting of 40,308 companies generated revenues of CNY8,161.60 billion (US$1,182.47 billion) in 2020, growing 13.3% on year, according to the Ministry of Industry and Information Technology (MIIT).
Exports of software products and services in 2020 totaled US$47.87 billion, accounting for 4.05% of the total revenues and slipping 2.4% on year. The industry posted operating profit of CNY1,067.6 billion in 2020, increasing 7.8% on year.
MIIT: China's software revenues by business category, 2020 (CNYb) | ||
Business category | Revenues | Y/Y |
Software products | 2,275.77 | 10.1% |
IT services | 4,986.77 | 15.2% |
IT security services | 149.82 | 10.0% |
Software for embedded systems | 749.23 | 12.0% |
Source: MIIT, compiled by Digitimes, March 2021
Article edited by Rodney Chan