3 The Chinese experience
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3 The Chinese experience book
From 1990 to 1999, the Chinese IT industry grew by 32.1 per cent per annum, compared with a total industry figure of 14.2 per cent and national economy growth of 9.7 per cent. In 2000, the output of the IT industry exceeded US$120 billion, sales revenue increased by 34 per cent to US$70 billion, and profits and taxes grew by 66 per cent to US$6.7 billion. Exports reached US$55.1 billion, up by 41.2 per cent from 1999. In 2000, the IT industry created value added of US $l6.7 billion, which accounted for 1.54 per cent of gross domestic product (GDP), compared with 1.29 per cent in 1999. Table 6.3.1 compares value added of the IT industry for 1995-2000 with GDP growth over the same period.