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Chinese Software Industry Has Great Potential
China's software industry has the potential strength to meet the challenges that will arise from foreign software companies after China joins the World Trade Organization, if it brings its strong points into full play.
Wang Wenjing, board chairman and president of UF Software Corp. Ltd., China's biggest financial and business management software provider, made the remark in an interview Thursday.
At a forum held at the ongoing Beijing High-Tech Week, the engineer-turned entrepreneur said it will not be easy for China to catch up with foreign software providers in system-operating software, since they already dominate the world market.
But China has advantages for developing applications software, he said, citing his UF Software and its financial applications which are very popular in the country.
He said that timely industrialization is also important for China's software industry, adding that "there is a sea of difference between a 20-staff company and a 2,000-staff company."
But good management and strict control over quality and product costs are always keys for success, he added, citing American's top software providers ORACLE and CISCO as examples.
Wang, a legendary figure in China's software sector, set up his UF in 1988 with 50,000 yuan (US$6,024) borrowed from friends. His company soon emerged as the country's biggest software provider, with a market share first in China for 10 consecutive years. Last year this market share amounted to 40 percent, with sales surpassing 300 million yuan (US$36 million).
He said young Chinese software developers should have a persevering spirit in their independent career pursuits, and warned them not to blindly follow fashion.
Other experts attending Wednesday's forum agreed that the development of financial and educational software that caters to China's needs will enable the country's software companies to grab and expand their market shares, and meet the challenges posed by their foreign counterparts.
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