China's software, IT service sector posts 2020 profit growth
China's software and information technology (IT) service industry reported a 7.8-percent year-on-year increase in combined profits last year, official data showed.
The sector's total profits reached nearly 1.07 trillion yuan (about 165.4 billion U.S. dollars), according to data from the Ministry of Industry and Information Technology.
Last year, the software and IT service sector raked in an accumulated revenue of 8.16 trillion yuan, up 13.3 percent from one year earlier.
The sector's exports dipped 2.4 percent on a year-on-year basis to 47.87 billion U.S. dollars.
A breakdown of the data showed that revenue from software products went up 10.1 percent year on year to 2.27 trillion yuan, and that of IT services rose 15.2 percent to 4.99 trillion yuan.
Meanwhile, the sales revenue of information security-related products and services totaled 149.8 billion yuan, 10 percent higher than in 2019.