The revenue of China's software industry exceeded 13 trillion yuan (about 1.78 trillion U.S. dollars) in 2024, contributing 4.4 percent to the nation's GDP, according to information released at the 4th China International Software Development Conference held in Beijing on Thursday.
"Last year, China's software business revenue reached 13.7 trillion yuan, a year-on-year increase of over 10 percent and a 44.2 percent growth compared to the beginning of the 14th Five-Year Plan (2021-2025) period," said Xie Shaofeng, chief engineer of the Ministry of Industry and Information Technology (MIIT).
Data from the MIIT also revealed a record high of over 2.8 million software copyright registrations, up 13 percent year-on-year.
In the first two months of this year, the revenue of information technology services maitained double-digit growth, reaching over 1.26 trillion yuan. Cloud computing and big data services generated 237.6 billion yuan in revenue, an 8.8 percent year-on-year increase.
Furthermore, the widespread adoption of artificial intelligence (AI) is expected to further propel the industry's growth. By enhancing software development efficiency and quality while lowering technical barriers, AI is poised to transform the sector.
"An intelligent complex will integrate platform data, computing power, case studies, and tools to provide users with ready-made solutions," said Chen Baoguo, executive deputy secretary-general of the China Software Industry Association.
Chen predicts that AI will contribute to over 20 percent of annual growth in the software market over the next five years, driving the industry's intelligent upgrade and creating new growth opportunities.
China's software industry achieves robust growth last year
Canadian businesses are adapting to the impact of the trade dispute with the United States, with many trying to reduce their dependence on American imports and diversify their suppliers.
The United States imposed a 50-percent tariff on 20 billion U.S. dollars' worth of Canadian goods on Saturday that came into effect just after midnight (0400 GMT), following the two countries' failure to reach a trade deal on Friday.
Canadian Prime Minister Mark Carney on Saturday announced Ottawa's "dollar-for-dollar" retaliatory tariffs against 20 billion U.S. dollars' worth of American goods would take effect on Sept 8.
Canadians are trying to come to terms with a new reality of 50 percent tariffs, which not only hit mass-produced goods but also original artwork.
"So all the original art that we sell and showcase, anything shipped to the States will be under the 50 percent," said Nancy Johns, owner of Nancy Johns Gallery and Framing.
Her gallery has been operating in Windsor, Ontario, just across the border from Detroit, for almost 20 years. On her online store, she has posted a message warning U.S. customers about the 50 percent tariffs they now face.
Johns said she was not surprised that trade talks broke down in the end, adding that she misses the stronger relationship Canada and the U.S. once had.
"I've always thought of Detroit as part of Windsor. We're interchangeable, really. So many friends, family, work stateside and they come over and they're like, we're just sad. We're sad that our countries are fighting," she said.
U.S. Trade Representative Jamieson Greer said Canada refused what he said was a good deal that included tariff cuts on steel, automobiles and lumber.
But in a statement released late Friday, Carney said he suspended the talks because Washington introduced last-minute changes that were "unfair, uneconomic, and called into question the reliability of any deal," even though the two sides had appeared close to a mutually beneficial agreement earlier in the week.
Some experts have said the prime minister's decision was difficult but necessary.
Canada is now the first country ever subjected to tariffs under Section 338 of the 1930 U.S. Tariff Act.
In an e-mail to CGTN, the head of one Canadian policy and research group says countries globally are watching how other governments react to growing U.S. economic pressure.
Vina Nadjibulla, founder and CEO of the Center for Strategic Statecraft, wrote that Canada's management of this confrontation -- whether it can absorb the economic costs, preserve domestic unity, defend its policy, autonomy and successfully diversify abroad -- will shape how Canada is seen around the world.
Many Canadian small business owners are ready to pick up the fight. In Toronto, boutique owner Daphne Nissani has been posting Instagram stories to promote her Canadian-brand clothing products.
She said that when there were talks of the first wave of tariffs from the Trump administration last year, she decided to pivot her business and has reduced American products by around 60 percent. She is also encouraging customers to buy more Canadian products.
"I wanted to minimize the dependency on the American brands that I was carrying in the store. So I slowly started to decrease it, change it up a bit. And in that time, I ended up finding more Canadian content, European content, and so now I have that that's incorporated into the store," said Nissani, owner of Boa Boutique.
The Canadian government has said there will be additional measures of support for businesses and workers affected by the U.S. tariffs, with further details expected in the coming days.
Canadian businesses seek to reduce dependence on US imports, diversify suppliers
