Minister: Internet industry to stimulate China economy

Minister: Internet industry to stimulate China economy

Summary: China plans to speed up the development of Web-related businesses in a bid to lift its weakening economy, including supporting construction of fiber-optic communication networks and public Wi-Fi spots.

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The Chinese government is banking on developing Internet-related busineses to help boost its weakening econonmy, through efforts such as the investing in supporting infrastructure.

This will include the construction of fiber-optic communications networks and public Wi-Fi hotspots, said Miao Wei, head of the country's Ministry of Industry and Information Technology, in a China Daily report Wednesday.

"The making and consumption of Web content will help to stimulate domestic demand and lift the economy," he said in the article.

Miao pointed out that China has already been spending "several hundred billion yuan" upgrading the country's Internet infrastructure every year.

He added that Chinese companies should strive to find ways to integrate the Internet industry with others, including tourism, hospitality, and financial services.

Under the country's latest five-year economic blueprint which runs from 2011 to 2015, one of its focus areas is to make cloud computing a key driver for the IT industry, and help local companies leverage its benefits.

 

Topics: Tech Industry, Fiber, China, Wi-Fi

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Loves caption contests, leisurely strolls along supermarket aisles and watching How It's Made. Ryan has covered finance, politics, tech and sports for TV, radio and print. He is also co-author of best seller "Profit from the Panic". Ryan is an editor at ZDNet's Asia/Singapore office.

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