China's software industry expands in first 10 months

BEIJING - China's software and information technology service industry reported double-digit growth in revenue and profits in the first 10 months of the year, data from the Ministry of Industry and Information Technology showed.

Profits of the sector expanded 13.8 percent year-on-year to 1.14 trillion yuan ($160 billion) in the period, while revenue grew by 13.7 percent from a year ago to 9.82 trillion yuan, showed the data.

Revenue from software products increased by 11.4 percent year-on-year to 2.32 trillion yuan in this period. Revenue from industrial software products expanded to 223.1 billion yuan, marking a year-on-year increase of 12.2 percent, according to the data.

Cloud computing and big data services revenue jumped 14.8 percent year-on-year, and e-commerce platform technical services revenue rose 9 percent, the data showed.