Shanghai's IT Industry Reports High Growth

SHANGHAI, August 3 (Xinhua) -- Shanghai's information technology (IT) industry generated 38.7 billion yuan in output value for the first half of this year, an increase of 23 percent over the same period of last year.

More than one-tenth of the city's total IT products during the time were exported to the United States, Japan and some other countries.

The pretax profits of the industry grew 13 percent on a year-on- year basis to hit 2.7 billion yuan in January-June.

Shanghai, which has set the goal of becoming an international information center in the near future, has listed the IT industry as one of the key development areas of the local economy.
Over the past few years, the city has fostered a series of profitable IT products like large-scale integrated circuits, computers, and mobile telecommunications equipment.

Latest statistics show Shanghai manufactures one-fifth of China 's integrated circuits, one-third of its telecommunications equipment, and 30 percent of IC cards.