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High Hopes for Websites Exchange Program
A much-vaunted Websites Exchange Program has given new hope for the Internet sector still smarting from a long ordeal of financial setbacks represented by the slump of tech stocks on the Nasdaq and increasing number of layoffs in China.
Co-sponsored by Microsoft Corp (China), Intel Corp (China), China GreatWall Computer Group and Sina.com , the program was initiated in September and is scheduled to conclude by year end.
The sponsors agreed that China's Internet sector has been plunged into a trying period after a heady expansion during the last decade. Lack of technical innovations, poor management and inability to achieve profitability currently plague China's Internet sector.
With an investment of 5 million yuan (US$0.60 million), the four giants aim to offer a comprehensive and systematic analysis of problems ranging from technical innovation, marketing and corporate co-operation with the view of injecting new life into China's Internet operators.
Call for expertiseRepresentatives from the sponsors expressed their firm belief in the advancement of Internet sectors, which is still in its infancy. They believe the sector is to lure more investment.
Participants concluded that expertise tops the lists of improvements for the advance of an Internet company, especially in product development, system maintenance, debugging, surveillance of the Internet and data analysis.
Wang Zhigang , vice president of sina.com at the conference , said: "Familiarity with one or two programming languages is far from enough. A qualified technician need to have versatility. And he must keep himself well-informed of the latest technical developments."
Fresh ideas"Lack of venture capital has been a headache for up and coming Internet operators. But many of their business plans are not so impressive," an investor said.
"A managerial team, with participants from overseas, may help," he said. "In the final analysis, innovative ideas are what will get the funding you ask for."
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