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IT gets boost to create new jobs

CHINA, the world's biggest manufacturer of electronics and information technology products, said yesterday it will boost development of the industry to create more than 1.5 million new jobs in three years.

The electronics and IT sector is expected to contribute at least 0.7 percentage points to China's annual gross domestic product growth from 2009 to 2011, compared with 0.8 percentage points last year, according to a document approved by the State Council, or China's Cabinet, and published on the government's Website.

That will provide new jobs for nearly 1 million college graduates out of a total of 1.5 million targeted vacancies, said the document.

Sales of electronics and IT products in China surged at an average annual rate of 28 percent from 2001 to 2007, but slowed sharply to 12.5 percent last year amid the economic downturn. Sales in 2008 totaled 6.3 trillion yuan (US$920 billion), with exports reaching US$521.8 billion, or 36.5 percent of the country's total export value.

The government will boost the industry by increasing state investment, credit support and export tax rebates, said the document. It also pledged to expand the domestic market for the industry and encourage innovation and restructuring.

In the next three years, China aims to achieve technological breakthroughs in strategic domains of the industry such as integrated circuits, new-type displays and software, according to the document.

Revenue from the software and information service sectors will account for 15 percent of the industry's total, up from 12 percent now. Fresh growth will be cultivated in digital TVs and the new generation of mobile communications and Internet.


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