The revenue of Shanghai's software and information services industry surged 20 percent year on year in the first five months, positioning the city as the fastest-growing hub among China's top four software and information services regions, with the other three being Beijing, and Zhejiang and Guangdong provinces, local officials said on Monday.

Shanghai has revealed 17 policies in four categories to fuel this momentum. They include awards for software and information services generating record-high revenue, encouraging research and applications in artificial intelligence, supporting digital and AI tech to empower traditional industries and cut costs from talent finding to fundraising for high-tech firms, according to the Shanghai Municipal Commission of Economy and Information.

Between January and May this year, Shanghai's software and information services industry generated a revenue exceeding 690 billion yuan (US$95.8 billion), a 20.4 percent year-on-year increase, much higher than the national level of 14 percent.

The chip design and industrial security sectors grew rapidly, along with China's broader long-term strategy of achieving self-reliance in software development, a goal that has gained increased urgency amidst strict technology bans imposed by the United States on Chinese tech industries.

Also in the first half, Shanghai saw 98 fundraising projects in software and information services industry, accounting for 16 percent of the national level, according to the commission.