By Li Panpan

(JW Insights) Jul 25 -- China's IC design revenue increased by 3.7% yearly to RMB134.9 billion ($18.86 billion) in the first half of 2023, according to the recent data by China's Ministry of Industry and Information Technology (MIIT) on its Wechat public account.

China's software business revenue was RMB5,517 billion ($771.41 billion) during the period, a year-on-year increase of 14.2%. Software product revenue registered RMB1,295.9 billion ($181.20 billion), a year-on-year increase of 11.7%.

Information technology service revenue reached RMB3,668.7 billion ($512.98 billion) during the period, a year-on-year increase of 15.3%. Among that, cloud computing and big data services achieved total revenue of RMB551.5 billion ($77.11 billion), a year-on-year increase of 16.5%. E-commerce platform technical service revenue was RMB476.2 billion ($66.58 billion), a year-on-year increase of 6.1%.

Embedded system software revenue increased 14% yearly to RMB466.7 billion ($65.26 billion) in the first half of 2023, a year-on-year increase of 14%.

It was previously reported that the operation of China's software industry in 2022 would improve steadily. Its revenue would surpass RMB10 trillion ($1.4 trillion), with stable profitability and growing exports.