Investment Quadruples in Chinese Mobile Industry

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Last updated at: (Beijing Time) Friday, July 25, 2003

Investment Quadruples in Chinese Mobile Industry

China's mobile phone industry attracted more than 10 billion US dollars of investment from 1999 to 2002, drawing foreign investors interested in China's electronic information industry.

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China's mobile phone industry attracted more than 10 billion US dollars of investment from 1999 to 2002, drawing foreign investors interested in China's electronic information industry.

Wei Jun, an official from the Ministry of Information Industry, said on Friday that China had 37 mobile phone manufacturers with acombined annual production capacity of 150 million mobiles in 2002.

China's mobile industry realized 250 billion yuan (over 30 billion US dollars) in sales in 2002, and produced 130 million mobiles in 2002, of which 63 million were exported.

Multinationals and foreign producers have accelerated investment and set up research and development centers in China. Seventeen foreign mobile manufactures invested approximately 1.9 billion US dollars in China in 1998, producing eight million mobiles, while 25 foreign producers invested over four billion US dollars in 2002, making 100 million mobiles, of which more than 60 million were exported.

Development of mobile industry has boosted related industries making integrated circuits, batteries and other key parts of mobile phones.

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