By Li Panpan

(JW Insights) Oct 25 -- China's IC design revenue reached RMB223.6 billion ($30.57 billion) in the first three quarters of 2023, a year-on-year increase of 6.8%, showed the recent data from the Ministry of Industry and Information Technology (MIIT).

The data also showed a revenue from embedded system software at RMB738.9 billion ($101.03 billion), a year-on-year increase of 12%.

China's software business revenue registered RMB8,761 billion ($1,197.92 billion) in the first three quarters, a year-on-year increase of 13.5%.

The software product revenue reached RMB2,046.5 billion ($279.82 billion), a year-on-year increase of 10.3%, accounting for 23.4% of the entire industry. Among them, industrial software product revenue was RMB197.6 billion ($27.02 billion), a year-on-year increase of 11.8%, said MIIT.

In the first three quarters, information technology service revenue was RMB5,833.5 billion ($797.63 billion), up by 15% yearly and accounting for 66.6% of the entire industry's revenue.

Among them, cloud computing and big data services achieved a total revenue of RMB875 billion ($119.64 billion), up by 15.8% yearly and accounting for 15% of information technology service revenue.

E-commerce platform technology service revenue registered RMB799 billion ($109.25 billion), a year-on-year increase of 9.4%.

In the first three quarters, revenue from information security products and services was RMB142.1 billion ($19.43 billion), a year-on-year increase of 9.3%.