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January 18, 2017

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Double-digit growth for IT planned

CHINA is aiming for double-digit annual growth in software and IT service industries during the five-year period from 2016 to 2020, according to a government plan released yesterday.

The Ministry of Industry and Information Technology set a goal for 2020 of industry business revenue exceeding 8 trillion yuan (US$1.2 trillion), with average annual growth of over 13 percent from 2016 to 2020.

China also aims to boost sales revenue from information security products to 200 billion yuan in 2020 with average annual growth over 20 percent.

The government will support development of software and IT service companies, encouraging them to become influential and competitive industry leaders, MIIT said.

Chinese companies should acquire leading innovative abilities and significant advantages in key sectors such as artificial intelligence, virtual reality and cloud computing, MIIT said.

In a separate plan also released yesterday, MIIT said China will support exploration of the 5G standard and commercialize 5G technology by 2020.

China’s IT industry saw sales of 17.1 trillion yuan in 2015, double that in 2010, MIIT said.



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