China's software, IT service revenue to boom

The revenue of China's software and information technology (IT) service industry will increase at an annual growth rate of over 24.5 percent to exceed 4 trillion yuan (635 billion U.S. dollars) by 2015, under new projections.

Software exports will amount to 60 billion U.S. dollars by 2015, while the revenue of China's IT service sector is expected to top 2.5 trillion yuan, according to a development plan unveiled Friday by the Ministry of Industry and Information Technology.

The research input of the country's 100 largest software companies will account for at least 10 percent of their revenues by 2015, according to the plan.

China is aiming to increase its focus on the software industry. The country will have more than 10 cities with software revenues exceeding 100 billion yuan and two to three software industrial zones with revenues topping 500 billion yuan by 2015, said the report.

The country's software and IT service industry saw revenues rise 32.4 percent year-on-year to 1.84 trillion yuan in 2011.