A staff member controls Alpha robot dog via mobile phone at the International Software Products and Information Services Trade Fair in Nanjing, Jiangsu Province, September 6, 2020. (CFP file photo)
Amid the coordinated COVID-19 response and economic and social development, Jiangsu saw smooth running of industry chains and stable rebound of service industry in the first quarter.
The revenue of software and information technology service increased from 706.2 billion yuan in 2015 to 1.08 trillion yuan in 2020, an increase of 1.5 times in five years, according to the province’s Department of Industry and Information Technology in February. Jiangsu became the third after Guangdong and Beijing to exceed the 1-trillion-yuan threshold in the sector.
Amid the expanding scale, the industry structure has continued to move towards offering services. Data showed the percentage of IT service revenue in the sector rose from 39% in 2013 to over 55% in 2020. The fastest growth happened in cloud service, up 14.1% year on year.
One representative of the province's software industry transformation is Yxt.com, which completed its E2 round of financing on March 29, the second financing in six months, and had an estimated market value of $1 billion. A leading provider of digital solutions for enterprise trainings, it has offered services to tens of thousands of companies, including those on the list of Fortune 500 and industry leaders.
The global spread of COVID-19 has hit hard foreign trade, but digital transformation has led to new market opportunities. On the evening of March 22, made-in-china.com, operated by Focus Technology, held the online trade fair for the South American market. A total of 53 buyers met online with more than 100 Chinese suppliers in fields of consumer electronics, toys, home decoration and building materials, sports and fitness, medical equipment and other industries. The event included nearly 200 one-to-one negotiations.
Online fair has become a new model of foreign trade developed by the platform, according to its operations director Li Wanyue.
"This time we broke with tradition and worked with trade associations, exhibition companies and local teams to accurately match quality buyers and sourcing needs with suppliers, and help realize win-win cooperation," said Li.
