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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: StanX Long who wrote (62559)	4/1/2002 4:55:50 AM
From: StanX Long	Read Replies (1) \| Respond to of 70976

High-tech spending in China projected to soar Monday April 1, 1:31 PM sg.news.yahoo.com BEIJING (Reuters) - An official consulting group estimates that small and mid-size firms in China will spend a record 100 billion yuan ($12 billion) on high technology products and services this year, state media said on Monday. The surge in spending on information technology goods and services by smaller firms -- which seek to become more efficient amid a rising tide of foreign competition -- offer huge sales opportunities to foreign firms in China, analysts say. Small and mid-size companies spent 82 billion yuan ($9.9 billion) on IT goods and services last year, making up a third of sales in the sector in China, according to the regulator Ministry of Information Industry's CCID Consulting Co, China Daily said. That would represent an annual growth rate of 23 percent that is expected to last until 2005, Huang Yong, vice president of CCID, was quoted as saying. "Many businesses are very keen to use IT technologies in their management and operations to sharpen their competitive edge, as they will face more pressure from foreign rivals after the nation's entry into the World Trade Organisation," Huang was quoted as saying.