China's software sector registers faster growth

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China's software and IT sector reported faster growth in both revenue and profit in the first eight months of the year, according to official data.

Its total revenue amounted to 3.95 trillion yuan (574.19 billion US dollars) in January-August, up 14.8 percent from a year earlier, quickening from 13.8 percent in the same period a year ago, according to the Ministry of Industry and Information Technology (MIIT).

Combined profits in the sector stood at 492.4 billion yuan, up 13.7 percent year-on-year, picking up the pace from 12.1 percent a year earlier and 13.5 percent in the first seven months.

MIIT data also showed faster export growth, and increases in both the number of employees and the average salary level.

China's software and IT sector witnessed rapid development during the past years thanks to Internet-based innovations and the transformation of traditional sectors.

An industrial robot displayed at the 20th China International Industry Fair, Sept. 19, 2018. /VCG Photo

Still, China's industrial robot output surpassed 100,000 in the first eight months of the year, according to the Ministry of Industry and Information Technology.

China produced 101,717 units of industrial robots during the January-August period, up 19.4 percent from one year earlier.

Source(s): Xinhua News Agency