China to surpass Japan as biggest consumer of IT products
Beijing, May 19 (PTI) China could soon surpass Japan to become the biggest consumer of IT products and services in the Asia-Pacific region, according to a new study.
China''s expenditure on IT is gradually approaching Japan''s, and it will hit USD 173 billion in 2013, about 4 per cent higher than Japan, according to the International Data Corporation (IDC).
In the report, published on May 17, the IDC attributes China''s growth in IT consumption to increasing consumer need and government support for the sector.
Wu Lianfeng, assistant vice president of IDC China, said that driven by the popularity of intelligent terminals such as the latest mobile phones and tablet computers, China''s personal consumption of IT products in 2012 will increase by 29.8 per cent year on year.
The growing need for terminals will inspire enterprises to develop more advanced IT, state-run news agency Xinhua quoted Wu as saying.
IDC China General Manager Huo Jinjie added that the central government will promote informatisation levels during the following five years, which will bring more opportunities for the development of the IT market.
The Rupee slumped to a record low, while stocks and bonds were hit, after the Federal Reserve signalled a tapering of its monetary stimulus, highlighting the country's dependence on foreign capital inflows to fund its current account deficit.
Date 10 hrs ago, Duration 0:47, Views 20