China's software industry sees revenue turnaround

Revival of China's software industry has quickened as revenue growth entered positive territory, according to the Ministry of Industry and Information Technology.

Software companies reaped nearly 2.8 trillion yuan (about $395.6 billion) in revenues from January to May, up 4.2 percent year-on-year, compared with a 0.1-percent drop in the first four months.

In the first five months, profit of the software industry reached 321.9 billion yuan, down 1.1 percent year-on-year. The decline narrowed by 1.2 percentage points from the January-April period, showing a gradual recovery in the sector that has been hurt by the COVID-19 epidemic.

Software exports continued slow recovery, with total exports amounting to $16.6 billion during the period.