Bank of America Securities released a report indicating that it conducted a corporate IT spending survey from November 15 to 22, gathering responses from over 300 IT professionals. Among them, 7.4% of respondents expect next year's software spending growth to accelerate to 7.4%, compared to this year's year-on-year growth of 6.6%.

In addition, the bank believes that the stimulus policies launched in mainland China since the end of September will gradually help rebuild corporate confidence in IT/software investments and accelerate the growth of software spending next year.

Among the China National Software & Service stocks covered by the bank, KINGSOFT (03888.HK) and Kingdee (00268.HK) are both recommended with a rating of 'Buy'. The target price for KINGSOFT has been raised from 38 yuan to 45 yuan, and for Kingdee, the target price has been increased from 11.1 yuan to 13.2 yuan.