China's software industry revenue up 26.4% in Q1
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E-mail Xinhua, May 9, 2012
China's software industry revenue expanded 26.4 percent year-on-year to 466.5 billion yuan (74.28 billion U.S. dollars) in the first quarter, the Ministry of Industry and Information Technology said Tuesday.
Profits of the software industry stood at 53.9 billion yuan during the period, an increase of 15.8 percent from a year earlier, said Chen Wei, director of the ministry's Department of Software Service Industry.
New orders in the first three months jumped more than 70 percent from the same period last year, as software companies continued to increase research and development investments, Chen said at a press conference for the upcoming International Soft China 2012.
But costs also rose sharply in the first quarter, up 15 percent from one year earlier, with wage costs jumping 28 percent, Chen said.
More than 600 software companies will attend the 16th International Soft China 2012, which will run from May 31 to June 1.
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