The software industry of China rose at a moderate 10.6% in the first half of 2012 compared to the robust 35.2% last year on account of economic slowdown both at home and abroad, the news reports said, citing government.
The software sector’s combined profits totaled 117 billion yuan in the first half, up 10.6% from one year earlier, but its pace of growth has slowed from 35.2% surge in the same period last year, said the Ministry of Industry and Information Technology.
The business revenue rose 26.2% year on year to 1.1 trillion yuan in the January-June period, down 3.1% percentage points than the growth in the same period last year, the state-run news agency said.
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Meanwhile, in the first six months, the sector’s exports surged 11.7% to 16.24 billion US dollars, 6 percentage points lower from the same period last year.
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The analysts attribute the industry’s slower growth to intensify competition and weak external demand, the reports said. The software industry in China is the business of developing and publishing software and related services in China.
The size of the industry including software and information services in 2011 was worth 383 billion RMB (about $60 billion) according to the Ministry of Industry and Information Technology.
The industry has experienced significant growth as the IT spending among various industry segments including government, banking, and manufacturing will likely propel the domestic software industry.
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