According to recent statistics released by China's Ministry of Industry and Information Technology (MIIT), the chip design industry in China generated approximately RMB 200 billion (about $273 billion) in revenue from January to August this year, which is a 5% increase compared to the previous year.

China IC design

During the same period, the income of China's software industry experienced a significant surge of 13.5%, reaching RMB 7,517.8 billion ($1,028.5 billion), as reported by an operation regulation and coordination agency under MIIT.

China's software products achieved a revenue of RMB 1,743.7 billion ($238 billion), indicating a year-on-year increase of 10.8%. This revenue accounted for 23.2% of the total income of the software industry. Notably, the revenue from industrial software amounted to RMB 170.4 billion ($23.3 billion), representing a 12.5% increase compared to the previous year.

The information technology service sector also experienced substantial growth, with a revenue of RMB 5,011.6 billion ($685.7 billion), reflecting a 14.8% increase. This sector accounted for 66.7% of the total income of the software industry.

Cloud computing and big data services jointly generated a revenue of RMB 753.2 billion ($103 billion), marking a year-on-year growth of 15.7%. This revenue accounted for 15% of the total revenue from information technology services.

Revenue from electronic commerce platform technology services reached RMB 698.1 billion ($95.5 billion), showing a year-on-year growth of 9% according to data released by MIIT.