China's software industry slows

According to the ministry of industry and IT, the sector's combined profits totaled 117 billion yuan ($18 billion) in the first half, up 10.6 percent from one year earlier.

But the pace of growth slowed from 35.2-percent surge in the same period last year, the ministry said.

Business revenue climbed 26.2 percent year-on-year to 1.1 trillion yuan in the January-June period, down 3.1 percentage points than the growth in the same period last year.

In the first six months, the sector's exports rose 11.7 percent to $16.24 billion, 6 percentage points lower from the same period last year.

Analysts attributed the industry's slower growth to intensifying competition and weak external demand.