BEIJING-Minister Wu Jichuan of China’s Ministry of Information Industry (MII) told a national information technology conference in Beijing that his ministry will help create a group of big international telecom companies. Three to four companies should realize sales of $4.8 billion this year, with a further 8 to 10 reaching sales figures of $2.4 billion.
He is also recommending five companies to go public abroad. One or two of them are expected to make initial public offerings before the end of the year.
The telecom law is expected to be promulgated soon.
Minister Wu also expects China to become the world’s biggest telecom market in number of subscribers and network capacity during the tenth five-year plan period (2001-2005). By 2005, China will have between 260 and 290 million mobile-phone users, one-fourth of the world’s total.
