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October 13, 2009

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Home » Business » IT

Pillar industry revenue set to jump 70%

SHANGHAI'S software and information technology service industry revenue will grow 70 percent in the next three years, thanks to the development of the online game, Internet TV and financial IT service sectors, city officials said yesterday.
In 2012, the revenue of the local software and IT service industry is expected at 360 billion yuan (US$52.9 billion), compared with 210 billion yuan this year. The industry will contribute 6 percent to the city's gross domestic product then, a rise of 1 percentage point from this year, according to the Shanghai Economic and Information Technology Development Commission.
"Software, a pillar industry of the city, has proven to be a green industry with high growth and low power consumption," said Ai Baojun, Shanghai's vice mayor. "We will continue developing the sector over the long term."
Shanghai will establish 10 industrial zones to develop the industry. The city is also expected to have 20 software and IT services firms with multinational operations, according to the commission.
Robin Li, founder and chief executive of Inc, said the country's biggest Internet search firm has opened a research and development center in Shanghai because of the city's "rich talent pool."
Shanghai is also home to top game firms such as Shanda Entertainment and The9 Ltd. The city will develop cyber games, e-commerce, digital TV and financial IT services, said Wang Jian, the commission's director.
In 2012, Shanghai's online game revenue will hit 16 billion yuan, half of the national level, the commission said.
IT research firm International Data Corp has said China's online game market revenue will reach US$5.8 billion in 2013, more than double last year, thanks to its 300 million Netizens.


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