China IT mart at $280 bn by '03
PTI[ MONDAY, DECEMBER 08, 2003 08:43:16 AM ]
BEIJING : The Chinese infotech industry’s output will be over $280 billion this year, the third highest in the world, and the figure will treble by 2010 to become the world’s largest, according to asenior Ch
inese official.
Besides strong output, China was also emerging as a leader in technology, thanks to the growth of domestic firms, Xu Qing, V-D of the National Development and Reform Committee’s high-tech division, said. This year, Chinese IT industry’s output was expected to touch $289.16 billion to become the world’s third-largest, following the US and Japan , Xu said at the 2003 annual economic conference of China ’s IT industry.
Xu’s forecast was based on some new bright spots in the industry, including digital TVs, integrated circuit manufacturing and 3G telecom application, the state media reported. The IT ministry will spend about $200 million annually to help domestic firms develop their own technologies. It plans to launch a software platform so that domestic firms can share their technology
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