Shanghai IT Sector Grows by 30 Percent Against Global Slowdown

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Last updated at: (Beijing Time) Thursday, January 17, 2002

Shanghai IT Sector Grows by 30 Percent Against Global Slowdown

The robust information technology (IT) sector in Shanghai, a leading industrial and business center in China, grew by 30 percent in 2001 on a yearly basis. In 2001, IT product manufacturers in the city generated a total output value of more than 100 billion yuan (12.1 billion U.S. dollars) for the first time in history.

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Contribution of IT sector

The robust information technology (IT) sector in Shanghai, a leading industrial and business center in China, grew by 30 percent in 2001 on a yearly basis, local officials said Wednesday.

The contribution of the sector to the city's gross domestic product rose to 8.2 percent from 7.4 percent in the previous year, said a spokesman for the Information Technology Office of the municipal government.

Achievements in 2001

In 2001, IT product manufacturers in the city generated a total output value of more than 100 billion yuan (12.1 billion U.S. dollars) for the first time in history. This was an increase of 25.6 percent from the previous year, when a surge of 42.6 percent was obtained.

According to the officials, about one third of the city's industrial investment went to the IT sector, mainly for the production of telecommunications equipment, computers, digital audio and video equipment, electronics parts and chips.

In 2001, the total revenue of information service and software industries amounted to 30 billion yuan (3.61 billion U.S. dollars),an year-on-year growth of 27 percent. The number of mobile phone subscribers jumped 71 percent to 6.2 million, while over 1.4 million local families had access to the Internet via the cable TV network.

With the wide application of information technology, 55 government departments now issue information about government services via the Internet, and intelligent cards are widely used in public transport sectors.

Shanghai Invites Venture Capital to High-Tech

China's largest metropolis Shanghai hopes to make a good use of venture capital in its high-tech sector, say sources with the International Symposium on Venture Capital and the Industrialization of High-Tech Research in Shanghai.

Shanghai welcomes diversified overseas financing. It does not matter if the capital comes from the private or the state sectors, from home or abroad. It is welcomed, as long as it is injected into areas with promising market potential and facilitates the city's economic development.

Overall Expansion for Shanghai's High-tech Parks

As heavy-weight multinationals strive to enlarge their investment in the Pudong New District of Shanghai,the east China's metropolis, local software parks, bonded areas and industrial belts vie to expand their land area to meet the growing demand.

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