China's software, IT sector picks up pace


(Photo: Xinhua)

BEIJING, July 29 (Xinhua) -- China's software and information technology sector posted faster growth in the first six months, official data showed.

The sector generated 2.9 trillion yuan (around 430 billion US dollars) in revenue in the first half of 2018, up 14.4 percent year on year, the Ministry of Industry and Information Technology (MIIT) said in a statement.

The growth rate was slightly higher than that in the first five months and more rapid than the 13.6-percent increase a year ago.

The sector maintained steady development, the MIIT said, citing double-digit profit growth, an increasing number of employees, and a rising wage level. Combined profits of the sector went up 10.5 percent to 358 billion yuan in the first half year.

However, software exports only rose 2.6 percent to 25.3 billion dollars in H1, slowing from 4.2 percent in the January-May period.