China's software industry reports 11.6-pct fall in revenues

Source: Xinhua| 2020-04-06 14:06:42|Editor: huaxia

BEIJING, April 6 (Xinhua) -- Revenues of China's software industry plunged during the first two months, weighed down by the novel coronavirus disease (COVID-19), according to official data.

The industry raked in 800.8 billion yuan (about 114.4 billion U.S. dollars) in revenue, down 11.6 percent year on year, according to data from the Ministry of Industry and Information Technology.

Profits dived 11.8 percent year on year to 98.1 billion yuan in the first two months compared with a 7-percent increase registered in the same period last year.

The sector's exports retreated 18.9 percent from a year earlier to 5.66 billion U.S. dollars.

The ministry attributed the sharp declines to the coronavirus pandemic, which dramatically slowed software businesses.

The sector employed 5.84 million people during the first two months, up 0.9 percent, while their gross payroll fell 2.6 percent year on year.