Beijing's Olympic Win Attracts
BEIJING, August 7 -- Encouraged by Beijing's Olympic
win, a great number of multinational corporations are planning to
step into the China market, especially in the telecommunications
sector, Tuesday's Beijing Morning Post reports.
"The number of such corporations is very large," said Yao Wang,
chairman of the Beijing Municipal Association for Promotion of
The paper quotes the official as saying that the Telstra Corp
Ltd, Australia's largest telecom carrier, and the No.1 telecom
corp. of Hong Kong have expressed their desire to enter the China
market, making the use of the Olympic opportunities.
According to the paper, more multinational corporations, which
already have businesses in China, are making extra investment.
Siemens plans to invest 60 million U.S. dollars to expand its
production of mobile phones from 10 million to 14 million annually
in Shanghai. The mobile telecommunications department of the
corporation plans to invest 250 million U.S. dollars in the
research and development of new telecom products, and plans to
produce the first batch of TD-SCDMA handsets in Beijing in 2003.
Moreover, Microsoft, Motorola, IBM, Intel and Nokia all intend
to increase their investment and expand their businesses,
according to the paper.
To grasp the business opportunities brought about by the
Olympic Games, many multinational corporations, such as the ABB of
Switzerland and the Chevron Overseas Petroleum Inc. of the United
States, have decided to relocate their respective headquarters to
China, the paper reports.
-- source: Xinhua News Agency
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