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Growth in IT industry slows down

(China Daily)
Updated: 2008-12-03 16:54

China's IT industry growth has slowed in the wake of financial crisis, data from Ministry of Industry and Information Technology showed.

Operating revenues of the industry in the first 10 months of 2008 amounted to 4.7 trillion yuan ($682 billion), up 17.6 percent from a year earlier. Hardware sales accounted for 4.06 trillion yuan, up 15.7 percent. Sales of software, which accounted for the remaining share of the total revenue, rose 31 percent year-on-year.

The value of the hardware sector increased 18.5 percent to 943.5 billion yuan.

But growth of the entire IT sector began to slow because of the decline in exports in the second half of the year after reaching a peak in June.

In addition, a drop in consumer demand for household appliances has also contributed to the sluggish growth of the IT Industry.

The Ministry said it is closely watching the development of the IT industry and will take necessary measures to maintain stable growth.