China's software industry has begun to show signs of life

The recovery of China's software sector accelerated as revenue in this area began to show positive dynamics, the Chinese Ministry of Industry and Information Technology said on June 27. Chinese software companies received almost 2.8 trillion yuan (about $395.6 billion) in revenue from January to May of this year, which is 4.2% higher year-on-year compared to 0.1% drop in the first four months of the year. In the first five months, Chinese software profits reached 321.9 billion yuan, which is 1.1% lower year-on-year. The fall was 1.2 percentage points slower than between January and April. Software exports continued to show slow recovery, and its total volume amounted to $16.6 billion over the indicated period.