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To: Robert Rose who wrote (22546)	6/16/1999 8:19:00 AM
From: Glenn D. Rudolph	Read Replies (1) \| Respond to of 41369

China.com says China aims at technology investment HONG KONG, June 16 (Reuters) - China.com Corp said on Wednesday China was committed to investing in technology to sharpen its competitiveness in the global digital economy. Peter Yip, vice chairman of the Internet websites operator, said he had worked with the Chinese government in the past to found China.com Corp. "I am totally convinced that China...is totally committed to investing in technology that will enable China to compete effectively in the global digital economy in the future," Yip told a conference hosted by the Far Eastern Economic Review. China.com operates four Chinese-language Internet websites. It is a sister company of China Internet Corp, a Hong Kong firm controlled by China's official Xinhua news agency. New World Infrastructure Ltd <0301.HK> boosted its stake in China.com last week to more than 20 percent from 12.7 percent. China.com said this week that Internet giant America Online Inc <AOL.N> had taken a 10 percent stake in the company. "Actually the investment made by AOL is the single largest e-commerce investment AOL ever made outside America. And that is good news to Hong Kong," Yip said. He declined to comment further. Yip said Hong Kong possesses the important elements to become a centre of e-commerce and the Internet in Asia. "If the ingredients are properly guided and properly utilised, they will enable Hong Kong to become a centre of e-commerce and Internet development in Asia," Yip said. In order for Hong Kong to realise its greatest potential in e-commerce, Yip said the Internet must become a core part of Hong Kong government policy for economic development REUTERS Rtr 06:07 06-16-99