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To: Yongzhi Yang who wrote (867)	2/24/1999 3:45:00 PM
From: ztect	Read Replies (1) \| Respond to of 1541

Wrong answers Yang.... Per HKT web page... "...Major shareholders are Cable and Wireless plc with 54 per cent, and China Telecom, the leading telecommunications operator in China, with 13 per cent; the remaining shares are public, held by local and international investors. Shares are listed on the Hong Kong, New York and Pacific stock exchanges. In 1998, Hongkong Telecom had a turnover of HK$35 billion (US$4.5 billion) and market capitalization at year-end of some HK$190.5 billion (US$24.5 billion)..." Thus Cable and Wireless is the majority owner of HKT... Click this link to verify for yourself. hkt.com Now I still said for the VAST majority of Chinese, the costs of internet access exceed them since the costs of these services are very high relative to their income. I have not wavered on this argument. The numbers bear this out since by the year 2000 less than 0.7% of Chinese will be internet "users". Now per your projected rates of growth using percentages to formulate your arguments is statistically deceiving, since when the numbers are low the largest percent increases will be recorded. For example if I own only one computer and then add 2 more ...that's an incredible 300% increase in the numbers of computers in my office. The same is true in China, the growth rate is so high because there are so few computers and internet users relative to the number of computers and users in China and world wide. And again the projected numbers of computers and internet users in China is very very small relative to China's total population and would have to increase and sustain increased levels of growth to support your arguments. Sincerely, ztect