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Technology Stocks : Discuss Year 2000 Issues

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To: David Eddy who wrote (1400)	4/6/1998 12:06:00 PM
From: C.K. Houston	Read Replies (1) of 9818

China Y2K: Big Banks Worry, Government No Money A February 1998 report from U.S. Embassy Beijing ================================================================== Summary: Chinese international banks and some PRC government ministries worry about the year 2000 problem but the PRC government won't spend money on Y2K. A PRC computer scientist told Estoff that low accounting standards and unreliable financial data mean that PRC companies do not take the Y2K disruption of their computers systems seriously. Most PRC companies do not yet rely on the computer systems that most began using only within the past decade. State Science and Technology commission official Qiu Xiaoling leads the unfunded PRC Y2K effort. Zhang Qi, leader of the Ministry of Electronic Industry (MEI)-based Y2K effort, decries official and business Y2K complacency. The first Chinese units to get mainframes -- academic researchers and the Chinese military -- are most exposed to the Y2K problem. SSTC Qiu Xiaoling's Y2K Effort: Talk But No Money State Science and Technology Commission (SSTC) official Qiu Xiaoling leads the PRC Y2K effort. *State Council telecommunications leader vice premier Zou Jiahua has said Y2K is an important problem, but the State Council has given the SSTC no money for Y2K work.* Dongbei University is working on an SSTC-assigned Y2K project but not with SSTC money. Qiu also said that the Pentum co. And an IBM joint venture with the Shanghai Information Center (Shanghai Xinxi Zhongxin) are working on Y2K. There have been several SSTC-sponsored Y2K meetings, including a september 1997 meeting at which several U.S. companies presented Y2K solutions. The meeting was reported in the Chinese press including the open edition of Reference News [Cankao Xiaoxi]. Hong Kong companies also attended the meeting. The Y2K meeting of September 1997 did not reach a consensus on how serious the Y2K problem is for China. redfish.com Cheryl

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