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China's software industry posts 29% revenue growth

(Xinhua)
Updated: 2009-01-31 15:21

China's software industry reported a 29-percent revenue growth for 2008 from a year earlier, according to the Ministry of Industry and Information Technology (MIIT).

Specifically, sales of software technology services and embedded software products rose by 40 percent and 17 percent respectively.

An official with the MIIT said high-tech industries had developed fast and steadily last year. The output of state-owned high-tech companies and private ones each with an annual sales revenue of more than five million yuan ($714,290) was up 14 percent from the previous year.

Production of high-end products such as the laptop and LCD TV also rose by more than 20 percent.

The software sector generated 580 billion yuan in revenue in 2007, up 20.8 percent year-on-year.