It was a lot higher from companies like Alibaba and Byte Dance before the internet company crack downs. The thing is, if left on its own, software makes tons of money because the input costs are minimal (basically just cloud hosting & software engineers). It doesn’t have the material & equipment costs of manufacturing and if you get people to work from home you can even save on facility costs. On the other hand, it generates tons of money from advertisement and selling services. So you can afford high salaries.I think the numbers for China need to be qualified. STEM PhDs making 11k USD a month versus senior software engineers making like 3-4k a month.
In this respect the crack downs were necessary to get high quality graduates to focus on sectors like advanced manufacturing, but there will obviously be costs to fields like AI and service platform development because now not as many people are going into them. If the current situation holds China will likely beat the US and allies in hardware but lose in software, which is an okay trade I guess