China to encourage IT firms to expand abroad

China will encourage more telecom-related enterprises to seek international expansion by rolling outmore preferential policies in 2005, reported Thursday's China Daily.

"We are now teaming up with related government sectors to hammer out more stimulative policies this year," Wang Xudong, minister of the Ministry of Information Industry was quoted as saying, noting the policies will be mainly for bank loans, credit insurance and international settlement.

"Going international is one of the key strategies for us to enhance our competitiveness," he said.

Source: Xinhua