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Chinese IT Enterprises Eye International Market
More and more IT (information technology) enterprises in China are seeking to enhance cooperation with world-renowned transnational corporations to tap the international market.
Shanghai General Electronics Group, a leading IT enterprise in China, has established joint ventures with over 20 multinationals including Siemens, Sony, Panasonic, Toshiba, Sharp and Hughes, bringing in some 370 million U.S. dollars of contractual overseas investment. These joint ventures alone reported 3.3 billion U.S. dollars of sales and 265 million U.S. dollars of profit last year.
With China's forthcoming entry into the World Trade Organization, Shanghai General Electronics Group is taking an active part in international competition in the IT sector.
The group has launched business in north and south American countries, Europe and Africa and has set up production bases, liaison offices and research and development centers in different regions of the world, said a top executive of the group at the forum.
The China Putian Group, a backbone manufacturer of telecommunication equipment, topped China's IT enterprises last year with 46.5 billion yuan (5.6 billion U.S. dollars) of sales.
Putian Group will enhance cooperation with its partners to foster joint ventures and expand business by increasing its market share and expanding exports, said Ouyang Zhongmou, president of the group.
"We'll strive to become one of the world's top 500 enterprises by the end of 2005," said the president.
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