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IT Leads Shanghai's Industrial Development
The information industry now plays the leading role in Shanghai's industrial development, with the total output expected to surpass 100 billion yuan (about US$12 billion) this year.
The information industry in the city maintained an average increase of 38 per cent in the past three years, and its annual sales increased 20 per cent over last year.
In 1999, seven enterprises of Shanghai's information sector edged into the country's top 20 electronics and information businesses.
Technological renovation is said to be the driving force for the sector's rapid development. In recent years, many state-owned enterprises and holding companies, such as Shanghai Bell Co., Ltd., set up research and development centers, and injected 6 to 9 percent of total sales profit into technological renovation.
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