Software and IT Services Pushed Forward Economic Growth
In the first five months of 2015 software and information technology services sales have surged forward proving that consumption pertaining to technology and Internet is increasing economic growth. The two sectors have witnessed a 17 percent increase in sales revenue compared to a year earlier or to 1.59 trillion yuan for January to May period.
Based on a report by the National Development and Reform Commission that the growth rate outperformed the 10 percent growth in the overall retail sales on the same period as well. Popular products such as smart TVs, smartphones and wearable devices are leading in the increase in sales as sales volume for smart TVs went up 59 percent last May.
Other brand new products and business models provides fresh support for the economic growth and online sales growth surged forward 39 percent during the first half of the year. China’s gross domestic product expanded by 7 percent compared to a year ago the same with the first and second quarter, thus beating a market forecast of a future decline.