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Wednesday, December 29, 1999, updated at 09:43(GMT+8) Business Information Industry: Powerful Engine for China's Economic Growth Information industry has enjoyed a rapid growth in China, leading the country's economic growth for 1999. According to the Ministry of Information Industry, from January to October of this year, the business volume of postal and telecommunication services amounted to 26.87 billion yuan, increasing by 32.5 percent on an annual basis. The telecommunication industry has been thriving after China cut certain illegal levies and charges this year. More and more people are turning to new technologies for communication and business. In the first half of 1999, new telephone customers reached 11.38 million. By July 19, the number had reached 100 million. Industry analysts said that the rapid growth in the industry was due to the government's new policy of installing a second phone for customers free of charge as well as recent reductions in connection charges. Mobile telecom services have witnessed record growth and an increase in business. Mobile telecom services between January and October increased by 70.6 percent, making 131.3 billion yuan which accounted for almost half of China's telecom business volume. China Telecom, the nation's largest telecommunication service provider, has connected its GSM (global system for mobile communications) network with 68 companies in 42 countries and regions. China has also rapidly improved its telecommunications infrastructure such as phone lines and Internet cables, providing better services for all consumers. The electronic industry is also developing in leaps and bounds with booming markets for all its major products. The total output value of the electronic industry in the first ten months of 1999 was 585.2 billion yuan, increasing 27.3 percent over the same period last year. During this period, production of micro-computers was 2.7 million, an increase of 29.1 percent over last year. Sales reached 2.4 million, up 39.7 percent. A total of 30 million color TV sets were produced, up 19.3 percent, and 28.7 million were sold, up 25.3 percent. A spokesman for the Ministry of Information Industry said that the ministry will take initiatives to maintain the present growth within the industry which is making remarkable contributions to China's economy. Printer-friendly Version In This SectionSearch Back to top Copyright by People's Daily Online, All rights reserved |
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