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Technology Stocks : Ascend Communications (ASND)
ASND 206.29+3.2%Nov 13 3:59 PM EST
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To: djane who wrote (44554)4/16/1998 3:42:00 AM
From: djane  Read Replies (1) of 61433
 
China to Invest US$54 Billion in Telecom Industry

nikkeibp.asiabiztech.com

April 16, 1998
(BEIJING) --
China plans to
invest RMB450
billion (US$54.2
billion) in the
construction of
communications
facilities up to
2000, according
to a recent
report.
The report said
that projects will
include mobile
communications,
telecom
networks using
optical fibers and
data
communication
systems for the
financial business
sector.

"The construction
of 14
optical-fiber
trunk lines is
under way and
will be
completed by the
end of 1998 or
the beginning of
1999, about two
years ahead of
schedule," the
report said.

Foreign investors
are becoming
more interested
in China's
electronics and
information
market, which
generated
US$60 billion in
sales in 1997 and
is expected to be
worth US$100
billion in 2000.

China will need
20 million new
personal
computers and
30 million to 40
million cellular
phones by 2000,
government
officials said.

(Xinhua News
Agency)
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