Municipal Government to Add More Investments in the City’s IT Industry

Municipal Government to Add More Investments in the City's IT IndustryDuring the China IT Summit in Shenzhen over the weekend saw yielded great news as the municipal government has vowed to further promote upgrades in the industry by adding more investments of 3 billion yuan in the research and development fields of the IT enterprises.

Shenzhen’s IT product output value last 2012 was more than 3 trillion this account for 88 percent of the city high tech product output. While the export value of the city IT products was at 119 billion yuan accounting for 44 percent of the city total export value. The main purpose of the measures is to elevate the values of the IT industry chain by transforming the business model of the hardware centered IT products that are manufacturing and turning it into content and application oriented IT services.

The income generated from the software services in 2012 was around 260 billion yuan which is a 21 percent increase compared to 2011. As a national model for e-commerce and pilot city of innovations Shenzhen is home to headquarters and offices of 3,769 key software companies and 160 integrated circuit design firms. Shenzhen also houses more than 600 electronic commerce companies that amassed a total trade volume of 580 billion yuan which shows an increase of 32 percent compared to 2011. Plus recently the city completed the construction of around 3,000 4G network stations that covers major population centers in the city.

The IT industry in the city gave rise to several IT giants such as Tencent and Huawei, still the city needs to improve since there are no major integrated circuit plants and software operation system that competes with th Android system being used in several mobile terminals in the city.

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