Chinese software exports need to increase by 25 % every year in order to reach its goal, according to Commerce Ministry.

As per a document issued by Commerce Ministry, SAT (State Administration of Taxation) & other 7 central authorities, software exports need to increase by 25 % every year in order to reach its goal.

The document said that the govt. aims to foster globally competitive companies with own brands & intellectual property rights. Software companies will be preferred in terms of taxation, borrowing & overseas exchange control.

China has made a determined plan to grow its trade-in services to US$ 400 Billion in 2010 from US$ 160 Billion in 2005. The govt. will work towards development of software industry as its key strategy.

China exported US$ 3.6 Billion of software & related services last year, an increase of 28 % year-on-year.

Technology imports went up by 45 % this year in first 9 months accounting nearly US$ 18 Billion. Copyright licenses contracts took the majority with year on year growth of nearly 58 %.

EU (European Union) is the biggest exporter of technology to China having a contracted fund of US$ 7.54 Billion, a 32 % growth rate. Japan & USA were ranked next with US$ 4.45 Billion & US$ 2.89 Billion worth of imports, respectively.

Technology imports by foreign funded enterprises increased by 49% to reach US$ 8.69 Billion. Value of State-owned Chinese enterprises' imported technology went up by 55.4% reaching US$ 8.04 billion.

"Private and foreign software players dominate the market while many Chinese companies are attempting to qualify for international standards with an eye on the international markets," as per the report "China: Shape of the Software Industry and Information Security Services (2005)" published by RNCOS.

About 22.2% of China's technology imports came from railway sector, accounting to US$ 3.8 Billion. Electronic & Communication imports went up 123.7 % to reach US$ 3.49 Billion.

Related Market Research Reports:
Opportunities in Chinese Software Industry (2007)
Consumer Electronics Market in Brazil (2007-2011)
Consumer Electronics Market Worldwide (2007)