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Software sector set for growth
By Zhu Shenshen |
December 15, 2010, Wednesday
|
Print Edition
Print Edition
CHINA'S software industry revenue is expected to grow more than 20 percent annually over the next five years, an industry association official said yesterday.
In the first 10 months of this year, revenue in the sector grew 29.9 percent year on year to hit 1.09 trillion yuan (US$163.7 billion). This accounted for 18 percent of total revenue in the information technology sector, compared with 6 percent in 2001, according to the Ministry of Industry and Information Technology.
In the next five years, China's software revenue will grow over 20 percent annually and will account for 20 percent or more of the IT sector's total revenue, said Zhao Xiaofan, vice chairman of the China Software Industry Association.
"The government is drafting a new policy to support the software industry," said Zhao, without providing details.
The government has already launched policies such as tax rebates and cheap rents to support the industry but these are expected to expire at the end of this year.
By 2015, China will have 10 software companies with annual revenue of more than 10 billion yuan, Zhao added.
Neusoft, which focuses on IT outsourcing, aims to boost its annual sales to 10 billion yuan through expansion in medical software, the Shenyang-based firm said recently.
Ufida, the country's biggest enterprise software vendor, said it plans to expand through mergers and acquisitions in four industry segments during the next two or three years.
Ufida is seeking M&A opportunities in IT firms that provide services for the automobile, finance, retail and medical industries.
Beijing and Guangdong Province have contributed about half of the country's software revenue. Nanjing, Jiangsu Province, and Dalian, Liaoning Province, also have rapidly developing industries, the ministry said.
In the first 10 months of this year, revenue in the sector grew 29.9 percent year on year to hit 1.09 trillion yuan (US$163.7 billion). This accounted for 18 percent of total revenue in the information technology sector, compared with 6 percent in 2001, according to the Ministry of Industry and Information Technology.
In the next five years, China's software revenue will grow over 20 percent annually and will account for 20 percent or more of the IT sector's total revenue, said Zhao Xiaofan, vice chairman of the China Software Industry Association.
"The government is drafting a new policy to support the software industry," said Zhao, without providing details.
The government has already launched policies such as tax rebates and cheap rents to support the industry but these are expected to expire at the end of this year.
By 2015, China will have 10 software companies with annual revenue of more than 10 billion yuan, Zhao added.
Neusoft, which focuses on IT outsourcing, aims to boost its annual sales to 10 billion yuan through expansion in medical software, the Shenyang-based firm said recently.
Ufida, the country's biggest enterprise software vendor, said it plans to expand through mergers and acquisitions in four industry segments during the next two or three years.
Ufida is seeking M&A opportunities in IT firms that provide services for the automobile, finance, retail and medical industries.
Beijing and Guangdong Province have contributed about half of the country's software revenue. Nanjing, Jiangsu Province, and Dalian, Liaoning Province, also have rapidly developing industries, the ministry said.
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