China's software industry revenue rockets

The software industry in China reported revenue of RMB190.59 billion in the first quarter of this year, up 23.9% from a year earlier according to by China's Ministry of Industry and Information Technology (MIIT).

The statement showed that the growth rate began to move even higher in in March when the sector recorded a 30.6% year-on-year rise in revenue, which reached RMB 64.52 billion (US$9.46 billion).

Alibaba reported that inthe first three months Chinese software exports rose 48.3% from a year earlier to US$3.84 billion.