China's software industry achieves robust growth last year

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

A growing number of Chinese energy companies are increasing their presence in the Persian Gulf as they get deeply involved in the region's energy transition.

As a highlight of China-Gulf cooperation, green energy projects carried out by Chinese companies in Gulf states gained spotlight at the 18th World Future Energy Summit, which took place from Wednesday to Thursday in Abu Dhabi, the United Arab Emirates (UAE).

A shining example is the Mohammed bin Rashid Al Maktoum Solar Park in Dubai. As one of the largest single-site solar parks in the world, the solar thermal plant is a key project to help Dubai achieve its carbon reduction goals and significantly increase the share of clean energy in the city's power mix.

"Upon completion in 2030, it will exceed 8,000 megawatts, and it will reduce 8.5 million tons of carbon emmissions on an annual basis. And it will raise Dubai's clean energy capacity up to 36 percent," said Ali Hayat, a senior engineer of the project.

In recent years, more and more Chinese energy product suppliers have transitioned to a new role as investors by building plants and regional offices in the Gulf region to deepen their participation in local energy transition.

"China has been absurdly in the lead in both ways -- in providing technologies that make the cost of solar panel to be affordable around the world, and also in an amazing increase of the share of renewable energy in the energy system," said Francesco La Camera, director-general of the International Renewable Energy Agency.

Chinese companies seek greater role in Gulf states' energy transition