Growth across China’s software industry is robust, according to new statistics from China’s Ministry of Industry and Information Technology that show increasing growth rates for sectoral revenue, exports, headcount, and wages on a year-on-year basis from January to April 2019.
In total, China’s software industry generated RMB 200.4 billion (USD 29 billion) during this period, up 14.8% year-on-year, an increase of 0.5 percentage points in growth. In April, software revenue grew 15.6%, with its growth rate also increasing 0.5 percentage points year-on-year.
Profits across the sector also rose, reaching RMB 250.3 billion, an increase of 8.7% year-on-year, though the growth rate fell 2.1 percentage points, and 4.6 percentage points from January to March, with total profit dropping 4.4% last month, on a year-on-year basis.
Nevertheless, software exports are on the rise. From January to April, the industry exported USD 15.3 billion (RMB 105.5 billion) in software services, up 8% year-on-year and 3.4 percentage points from January to March. Within this, revenue from outsourcing services and embedded software systems grew by 9.2% and 4.8%, respectively.
The headcount and wages in China’s software sector also grew. The average number of employees from January to April reached 6.23 million, a 4.6% year-on-year increase. Total wages of these employees grew 15.8% year-on-year, a 1.7 percentage point increase, and per capita wages increased 10.6%.