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China's Software Market to Reach RMB$120 Bn Yuan in Five Years
China's 1999 software output value totaled RMB$18.2 bn yuan to show RMB$4.4 bn yuan growth over 1998, or 31.88% increase over the same period of the previous year. Against this there will be a growth of software output value to RMB$20 bn yuan in 2000.
Experts say China's software has been developed with an output value to take 2% of its GDP and a sum total of RMB$120 bn yuan is to be predicted in the coming five years.
To date, software parks as those on a "Torch Light" program by the Ministry of Science and Technology have been founded nearly in 20 regions in China. Acting on a unified plan, practical help and sustained support have been given by the governments at various levels in boosting the country's software industry.
These include a 3% reduction of value-added tax and a 10% more or less cut of income tax having been introduced by the government when some other possible reductions or exemptions made of enterprises' income and prioritizing use of home-made software products and systems on major state projects are excluded.
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