China Urged to Bolster Cyber-economy

Members to the on-going Third Session of the Ninth National Committee of the Chinese People's Political Consultative Conference (CPPCC) have urged the Chinese government to accelerate developing a cyber-economy. CPPCC National Committee member Cai Laixing, an entrepreneur from Hong Kong, suggested in a 12-page proposal that internet- based economy be bolstered as an important infrastructure and pillar industry in the nation.

In that regard, China needs to establish its own system for developing internet-related technologies, map out a blueprint for developing the industry, popularize the use of internet, and form a venture capital investment system, suggested Cai, who is chairman of the board of directors of the Hong Kong Shanghai Industrial (Group) Co. Ltd.

With a promising future ahead, internet has registered fast growth in China in recent years. By January 2000, the nation's internet users had reached 8.9 million, which is projected to reach 30 million in three years.

Derivative industries of the internet mainly involve internet technology, E-commerce, information technology, telecommunications, software and hardware of computers, and web-based media, said Cai, adding that the booming E-commerce is already incorporating the internet industries with traditional industries and rising to become a new form of industry.

Ni Guangnan, an academician of the Chinese Academy of Engineering, echoed Cai's view by citing the internet as a new growth area for the global economy and development of cyber- economy as an irreversible trend.

Prominent Chinese economist Xiao Zhuoji also called for greater government support in funds and the capital market to facilitate the growth of cyber-economy in the nation.

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