IT sector damaged as demand shrinks

By Zhu Shenshen | January 6, 2009, Tuesday |

Print Edition

THE growth in information technology imports and exports slowed in the first 11 months of last year, as the financial crisis took its toll on United States demand, the government said yesterday.

However, the export of laptops, cell phones, integrated circuits and LCD panels was still strong, according to the Ministry of Industry and Information Technology.

In the first 11 months of 2008, IT exports and imports were valued at US$484.22 billion, a 16.8 percent growth year-on-year. The growth rate was 9.4 percentage points lower than the same period in 2007, according to the ministry.

Exports to the US, where the financial crisis has battered consumer confidence, were valued at US$93.38 billion, up 8.32 percent, but growth was 7.6 percentage points lower than in 2007. Exports to Japan grew 17.57 percent, 1.5 percentage points higher than a year ago.

Global cell phone sales will have single-digit growth or lower in 2009, according to research firms such as US-based Gartner Inc.

The slowing demand of the global market has hit the export-oriented domestic IT industry and forced many firms to shut their doors, especially in southern China.

"It's a challenge, of course," said Chen Wenhai, secretary general of the Chinese Institute of Electronics. "But it's also a chance for China to upgrade its industry structure and inject high-quality and innovation into domestically made products."

The export of laptops jumped 25 percent in the period to US$60.5 billion.

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IT sector damaged as demand shrinks

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